Through June 30, 2006, Novia (or its predecessor, Novia CareClinics, Inc.) was wholly owned by Novia Holdings, Inc. ("NHI), formed in 1997, and was affiliated with a medical stop loss managing general underwriter, Novia Underwriters, Inc. ("NUI") (collectively "Novia").
Effective June 30, 2006, the shareholders of Novia sold Novia's underwriting agency operation to Houston Casualty Insurance Company ("HCC") but retained ownership and management of Novia. By virtue of the sale of NHI and its other subsidiaries, the management of Novia was enabled to be wholly devoted to on-site clinic development and management services.
