Specialist insurer Chaucer has expanded its regional distribution with the acquisition of Sydney-based underwriting agency and Lloyd’s coverholder, SLE Holdings.
SLE writes specialty property and casualty products, focusing on sports, leisure and entertainment markets.
John Fowle, Chief Executive Officer (CEO) of Chaucer, said; “We are delighted to welcome the SLE team to our organisation.
“This acquisition is an excellent strategic fit. It will enable us to increase our presence in this important market, giving us greater access to high-quality business and bringing us closer to our customers, while providing for a broader distribution of other Chaucer products in the future.”
SLE’s expertise will increase Chaucer’s Syndicate 1084 specialty product offers and help the firm develop its business through new growth opportunities and resources.
Brad French, Managing Director of SLE, commented; “We look forward to joining the team. Chaucer has a strong and well-recognised Lloyd’s brand and we are excited about working with the Chaucer team to expand our current business offering.
“This relationship also provides the strong platform needed to continue our profitable growth in this market.”
Joseph M. Zubretsky, President and CEO of The Hanover, commented;”This acquisition will enable us to expand our specialty capabilities as part of our long-term growth strategy, Hanover 2021.
“SLE will provide us with additional underwriting expertise, new product capabilities and greater access to the Australian market.”
SLE includes Pacific Underwriting, a specialist commercial/industrial managing general underwriter.