Artemis ILS NYC 2020

Menu

Reinsurance News

The Hanover explores alternatives for Chaucer business, including possible sale

29th March 2018 - Author: Steve Evans

The Hanover Insurance Group, Inc. said today that it is exploring “strategic alternatives” for its London-based Chaucer business is underway, which could include a possible sale.

Chaucer logo

A “review of strategic alternatives” is currently being undertaken by the firm, as it looks at its options for the Chaucer international specialty underwriting business at Lloyd’s, where it underwrites a range of insurance and reinsurance lines, including marine, property and energy risks.

Investment bank Goldman Sachs has been retained to advise The Hanover as it considers options available to it.

Chaucer is one of a number of likely sought-after London or Lloyd’s based businesses that could be considered as potential acquisition targets and with valuations for re/insurance M&A deals currently high, it’s possible The Hanover sees a timely opportunity to consider any approaches that are made.

Chaucer underwrites across across international marine and non-marine markets through its Lloyd’s Syndicate 1084, and has a leading underwriting vehicle for nuclear risks in Syndicate 1176.

The firm also has international hub offices across Europe, Latin America and Asia and recently established a Dublin-based entity to provide continuity in its European trading through the Brexit process.

Chaucer also set up its first collateralised reinsurance sidecar, Thopas Re, this year, as it looked to the capital markets for reinsurance capacity support for its Syndicate 1084.

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous article:
SoftBank said to be getting closer to Swiss Re deal

Japanese technology conglomerate, telecommunications and investments giant SoftBank Group is said to closing in on the acquisition of a roughly...

Close