Novel Financial Holdings has secured investment from specialist private equity firm Flexpoint Ford to support its continued expansion as a diversified underwriting and insurance services holding company.
The capital investment, funded through Flexpoint Asset Opportunity Fund III and Flexpoint Insurance Opportunity Fund I, expands Novel’s ownership base and solidifies its position as an independent insurance platform.
Founded in May 2025 with former PartnerRe CEO Jacques Bonneau as chairman and Howden Re’s Rob Bredahl as CEO, Novel manages policyholder-owned reciprocal transactions through ownership of attorney-in-fact (AIF) entities, as well as traditional equity insurers through direct ownership and service contracts.
By combining fee income from alternative investment funds with the underwriting performance of its operators, Novel enhances scale and diversification across a variety of income types and risk exposures.
The platform benefits from expert plan selection and partnerships with reputable companies like SageSure Insurance Managers LLC.
Currently, Novel’s portfolio includes Forza Insurance Holdings, which manages SURE and Elevate reciprocal, and GeoVera Nova Group, which supports a wide range of residential and commercial insurance products, including AM Best rated entities.
On April 1, 2026, GeoVera Nova became a wholly-owned subsidiary of Novel through a share exchange between existing ordinary shareholders, bringing the business under Novel as part of the company’s plan to build a diversified insurance platform.
GeoVera Nova will retain its current leadership team and underwriting, claims and distribution relationships with SageSure, while receiving executive support from Novel.
AM Best recently affirmed GeoVera Nova Rating Member’s financial strength rating of A (Excellent) and long-term issuer credit rating of “a” (Excellent), both with stable outlooks.
Rob Bredahl, CEO of Novel, said: “As we continue to scale and diversify Novel, we are pleased to partner with Flexpoint because of their deep investment experience across the entire insurance value chain. Flexpoint brings not only flexible capital, but also meaningful industry expertise and relationships that will support our growth in the years to come.”
Dominic Hood, managing director of Flexpoint, said: “We have known Rob and the Novel management team for many years and have deep admiration for their achievements in the insurance industry.
“We are pleased to support Novel’s development into a differentiated holding company in property and casualty insurance that combines fee-based insurance services with the ability to deploy balance sheet capital across multiple business classes and throughout the underwriting cycle.”
