Chaucer, the international specialty re/insurance group, has received regulatory confirmation to write excess and surplus lines business across the US.
The National Association of Insurance Commissioners (NAIC) confirmed that Chaucer is now authorised to write this business through its Ireland domiciled subsidiary, Chaucer Insurance Company DAC.
Chaucer has also been added to the NAIC’s Quarterly Listing of Alien Insurers eligible to write excess and surplus lines business, effective from January 1, 2020.
“Our increased US reach supports our strategy of providing seamless access to Chaucer’s underwriting expertise and innovative specialty products through company or syndicate paper,” said Michelle Moore, General Manager of Chaucer.
“This, as with our recent A rating from AM Best, will be of great benefit to our brokers and clients as we combine experienced underwriters with an unrivalled client service to provide a natural home for small and mid-sized specialty risks from the EU, the UK and the US,” Moore added.
Chaucer Insurance Company currently has a financial strength rating of A (Excellent) from AM Best and an A- rating from Standard & Poor’s.
Both rating agencies have also acknowledged Chaucer as a key engine for China Re’s international growth, following Chaucer’s acquisition in April 2019.
