Novel Secures Investment from Crestview Partners

On October 30, 2026, Novel Financial Holdings, Inc. (“Novel”) secured a new equity investment from Crestview Partners (“Crestview”)

• The investment will support Novel's continued build-out as a diversified underwriting and insurance services holding company.

Novel is a diversified underwriting and insurance services holding company currently managing ~$2bn of annual gross written premium

• Led by a team of industry veterans, Novel manages both policyholder-owned reciprocal exchanges through ownership of attorney-in-fact (“AIF”) entities and traditional stock insurance companies through direct ownership and service contracts.
• By combining fee-based earnings from AIFs and other insurance services businesses with operating results from its owned insurance carriers, Novel is continuing to build a business with increased scale and diversification across underwriting exposures and revenue streams to deliver returns through market cycles. Its portfolio includes:
  • Forza Insurance Holdings, owner of the AIF entities that manage SureChoice Underwriters Reciprocal Exchange and Elevate Reciprocal Exchange.
  • GeoVera Nova group of companies, which was recently affirmed a Financial Strength Rating of “A” (Excellent) by A.M. Best.
• Novel's strategy includes continued partnerships with established underwriting organizations alongside the development of its own individual risk underwriting capabilities and expansion into additional specialty and casualty lines of business.

Crestview is a leading private equity firm focused on the middle market, headquartered in New York

• Founded in 2004, Crestview manages funds with over $10 billion of aggregate capital commitments with a sustained focus on insurance and reinsurance.
• Led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management.
• Select current and prior insurance industry investments include Fidelis, Venerable, Lancashire, Third Point Re, and PartnerRe.

Howden Capital Markets & Advisory Role