Reinsurance News
Chaucer
Chaucer & Crown Jewel partner on trade secret insurance product
13th February 2023
Chaucer, a global specialty re/insurance group, and Crown Jewel Insurance, an insurtech and Lloyd's Coverholder, are joining forces in a new partnership to provide insurance coverage for companies' trade secrets. According to a joint press release by the two firms, the product is the first of its kind to offer protection ... Read the full article
Chaucer partners with Kita, Munich Re & RenRe to provide capacity
27th January 2023
Global specialty re/insurance group, Chaucer has announced its partnership with Kita, a carbon credit insurance specialist, to insure the delivery risk of carbon sequestration projects. The group is not only investing in Kita, but will also be providing lead underwriting capacity; follow capacity will be provided by Munich Re Syndicate and ... Read the full article
Chaucer doubles Dubai re/insurance business since 2020
25th January 2023
Chaucer has doubled its re/insurance business in Dubai since 2020 as well as the size of its re/insurance book, said the group in a recent announcement. The Dubai office has gone from strength to strength since Chaucer MENA opened its doors in 2017, increasing its book size 40% y-o-y, the re/insurer ... Read the full article
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
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