Reinsurance News
Chaucer
Chaucer warns on rising cost of insuring against sovereign debt defaults
12th December 2022
Research from Chaucer indicates that the cost of insuring against sovereign debt defaults has increased by 102% over the past year. According to the firm, the twelve months has seen the cost of Credit Default Swaps used to insure against a default on the debt of a third party, such as ... Read the full article
Chaucer names AXA XL’s Tuggey as Head of Cyber
1st November 2022
Global specialty insurer and reinsurer and part of China Re, Chaucer, has named Piers Tuggey, previously of AXA XL, as its new Head of Cyber. Tuggey spent four years with AXA XL, most recently serving as the company's Head of Cyber. Prior to the merger with AXA, Tuggey worked at XL ... Read the full article
Contract insurance in demand amid sovereign debt downgrades: Chaucer
1st November 2022
Analysts at global specialty re/insurance group Chaucer have noted an increase in demand for contract frustration insurance amid widespread sovereign debt downgrades, caused in part by the Ukraine crisis and inflationary pressures. A new report by the firm observes that sovereign debt worldwide has been downgraded 78 times by the top ... Read the full article
Chaucer & K2 partner to launch new US parametric product
27th October 2022
Global specialty re/insurance group, Chaucer, in partnership with K2 Parametric, will provide coverage for US mid-size corporates and municipalities against hurricane and earthquake damage, an area which it notes has previously been underserved by the market. The partnership with K2 Parametric is the latest parametric initiative from Chaucer, which also provides ... Read the full article
Social unrest rises in LatAm due to inflation and economic stress caused by COVID: Chaucer
11th August 2022
Businesses “must think carefully about protecting themselves from a likely increase in damage” caused by growing social unrest in Latin America, mainly driven by inflation on top of the economic and social stress initially caused by COVID, said Chaucer. According to a new analysis by the re/insurer, the number of protests ... Read the full article
Damage from wildfires up 75% in a year in Europe
20th July 2022
Damage from large wildfires in Europe has jumped dramatically, with a 75% increase in the amount of land burnt in the last year, according to new analysis by Chaucer. In June and July of this year, parts of Europe have experienced devastating wildfires as a result of rising temperatures. Read the full article
“Extreme weather threatens offshore energy sectors” – Chaucer
10th May 2022
A new report from Chaucer says that the offshore oil, gas, and wind energy sectors are under increasing threat as extreme weather becomes more commonplace. The report, Oceanographic climate change: The impact of ocean-based climate change trends, warns that the offshore energy sector – particularly assets such as oil platforms and ... Read the full article
Chaucer commits to net zero by 2050
27th April 2022
Specialty reinsurer Chaucer has said it aims to achieve net zero in greenhouse gases by 2050, if not before. The firm said that this commitment encompasses its global underwriting and investment portfolios. John Fowle, CEO of Chaucer says: “We all need to play our part in addressing climate change. By committing to ... Read the full article
Chaucer appoints Ben Sheppard as Class Underwriter
21st April 2022
Specialty re/insurance group Chaucer has appointed Ben Sheppard as Class Underwriter to join their recently created Renewable Power team, led by Lyndsey Picton. Sheppard’s appointment supports Chaucer’s commitment to the Renewable Energy sector, by providing dedicated resource to help build their offshore energy proposition supporting insureds to successfully deliver sustainable power ... Read the full article
Allianz latest to rule out insuring East African Crude Oil Pipeline
11th April 2022
Allianz has become the seventh insurer to commit to not providing coverage to the East African Crude Oil Pipeline (EACOP). The pressure group #StopEACOP says that the insurer has sent it an email to confirm that they will not be ‘providing direct insurance’ to the project since ‘it neither meets our ... Read the full article
Falvey Cargo launches new cyber coverage with Chaucer
18th March 2022
Falvey Cargo Underwriting has announced its brand new coverage protection – Cyber for Cargo. This new coverage will also see the company partnering with the leading speciality re/insurance company, Chaucer Group, to help bring this exclusive protection to Falvey clients. The company says that it recognises that cyber risk exposure is an ... Read the full article
Beazley, Chaucer, and Gaia team up for new IVF underwriting approach
14th February 2022
Beazley and Chaucer have been working with Gaia to design a new underwriting approach for IVF treatment within the UK. Gaia said that the product will be led by Beazley with further support provided by Chaucer and Atrium. Meanwhile, it has been appointed as a Lloyd’s Coverholder. George Beattie, head of incubation ... Read the full article
Chaucer and Moody’s work together on ESG scorecard
11th February 2022
Chaucer and Moody’s are to team up on a new ESG ‘scorecard’. The project, which the two companies say is the first of its kind in the (re)insurance sector will assess ESG credentials using property data and 158 different metrics. John Fowle, CEO of Chaucer comments: “It’s incredibly exciting to be working ... Read the full article
Chaucer creates dedicated renewable power team as Energy Division expands
1st February 2022
Specialty re/insurance group Chaucer is launching its own dedicated team for Renewable Power. The team will be one of two within the company’s Energy Division, with the other being the restructured Natural Resources. The newly created Renewable Power team will be led by Lyndsey Picton, who will be the head of renewable ... Read the full article
Chaucer appoints Raj Nanra, as CEO of SLE Worldwide Australia
7th January 2022
Specialty re/insurance group Chaucer has announced the appointment of Raj Nanra as CEO of SLE Holdings, known in the market as SLE Worldwide Australia. He will be responsible for the leadership, strategic delivery and sustainable financial result of the business. Nanra has over 25 years of insurance experience, including executive positions at ... Read the full article