Reinsurance News
Chaucer
Chaucer names Wright CFO, Joubert becomes CRO
16th April 2024
Chaucer, the global specialty re/insurance firm has bolstered it's leadership team, with the appointments of James Wright, the company's current Chief Risk Officer (CRO), who has been named the firm's new Chief Financial Officer (CFO), and Werner Joubert, who has been promoted to the role of CRO. Both these appointments follow ... Read the full article
Chaucer enters weather insurance market with new parametric product
25th March 2024
Global specialty re/insurer Chaucer has entered into the weather insurance market with a new parametric weather product to cover non-damage business interruption. The new product aims to provide coverage for weather-related losses for weather events that fall outside a pre-established range of variables such as temperature, wind speed or precipitation. Chaucer has ... Read the full article
Mass shooting insurance product launched by Gabriel in partnership with Chaucer
21st March 2024
Gabriel, a technology company tackling mass shootings and workplace violence threats, has partnered with specialty re/insurance group Chaucer and crisis management specialists Merrill Herzog to offer a mass shooting insurance product. Designed to prevent and mitigate against mass shootings, the Active Assailant product uses artificial intelligence (AI) technology to alert insureds ... Read the full article
Rising demand for political risk insurance amidst surging global elections: Chaucer
15th February 2024
Chaucer, a re/insurance company owned by China Re, forecasts that 2024 will bring heightened political risk due to a surge in scheduled elections worldwide. This escalation raises concerns about potential political upheaval, prompting an increased demand for political risk insurance among businesses globally as they seek to protect themselves. Consequently, the ... Read the full article
Standardisation of ESG metrics key for re/insurance industry to drive change: Chaucer
30th January 2024
The standardisation of environmental, social, and corporate governance (ESG) metrics across the re/insurance industry is key, as it would help insurers to make more informed decisions, according to Chaucer analysts. An industry-wide standard would further improve the quality of ESG disclosures by insured, experts also highlighted at the re/insurer’s Sustainability Forum ... Read the full article
Chaucer appoints Aspen’s Richard Milner as Group CEO
17th January 2024
Global specialty insurer and reinsurer Chaucer has appointed Richard Milner as its new Group Chief Executive Officer (CEO), subject to local regulatory approval. As the Group CEO, Milner's remit will include being responsible for the general oversight, management, and strategic development of the business which includes composite Syndicate 1084, specialty nuclear ... Read the full article
Chaucer reports surge in sovereign debt downgrades
12th January 2024
In the past year, Chaucer, global specialty re/insurance firm, has observed a staggering 43 sovereign debt downgrades worldwide. The combination of soaring inflation and escalating global interest rates has sparked concerns about the ability of numerous countries, including economic heavyweights like the United States and France, to meet their debt obligations. The ... Read the full article
Global sovereign debt downgrades spark surge in contract frustration: Chaucer
12th January 2024
In the past year, a staggering 43 sovereign debt downgrades have swept across the globe, with concerns mounting over governments' ability to meet their financial obligations, according to global specialty (re)insurance group Chaucer. High inflation coupled with rising global interest rates has intensified worries about servicing debts, prompting downgrades for nations ... Read the full article
Crown Jewel Insurance adds three re/insurers for trade secret policy
7th December 2023
Crown Jewel Insurance, an insurtech and Lloyd's Coverholder, has secured three additional re/insurance organisations to support its breakthrough trade secret insurance policy known as Crown Jewel Protector. The re/insurers, Apollo Syndicate Management Limited, Tokio Marine Kiln Syndicates Ltd, and Greenlight Reinsurance Ltd., will each provide insurance capacity ... Read the full article
Total capital value of wind farms worldwide hits £1.9tn: Chaucer
20th November 2023
The total capital value of wind farms worldwide has reached approximately £1.9 trillion, according to a new study from global specialty re/insurance firm Chaucer. The transition from coal and oil-based energy generation to low carbon energy sources such as wind and solar farms has required an unprecedented level of investment in ... Read the full article
Simon Schnorr named Chaucer Head of Marine & Energy
16th November 2023
Global specialty re/insurance group Chaucer has announced the appointment of Simon Schnorr as Head of Marine & Energy. He will be assuming responsibility from Kelan Hunt in a revised organisational structure where Hunt will place greater emphasis on his role as Active Underwriter of Syndicate 1084. Schnorr brings to his new role ... Read the full article
Severe weather patterns shift North American wildfire risk landscape: Chaucer
14th November 2023
In a recent study, global specialty (re)insurance group Chaucer has identified significant shifts in North American wildfire risk patterns, particularly in regions previously deemed 'low-risk.' The report reveals that areas such as the Appalachians, Southern Rockies, Alberta and British Columbia, and Texas, once considered safe from catastrophic wildfire events, are now ... Read the full article
Elections in 2024 could drive political risk insurance demand higher: Chaucer
23rd October 2023
Demand for political risk insurance is predicted to grow in 2024 driven by an increase in the number of elections worldwide, an event that usually heightens the value of economies, and together increase political risk for businesses operating in countries facing political uncertainty, said Chaucer. According to the re/insurers data, the ... Read the full article
Kita works with Chaucer on carbon credit claims
16th October 2023
Lloyd's coverholder and carbon insurance specialist, Kita, working closely with lead capacity provider Chaucer, has introduced the ability to pay insurance claims in replacement carbon credits. Clients of its flagship Carbon Purchase Protection Cover insurance now have the option to receive insurance claims in carbon credits. The company has secured Letters of ... Read the full article
Chaucer’s Zak Mallen joins Aon as MD, Head of Strategic Growth, Casualty Re in Bermuda
11th October 2023
Chaucer's Zak Mallen has joined global re/insurance broker Aon, as Managing Director and the Head of Strategic Growth, Casualty Reinsurance, in Bermuda. He joins Aon following a decade of service at Chaucer, where he most recently served as a US casualty reinsurance underwriter. He first joined the firm in June 2013, taking ... Read the full article