Daily Insurance Industry News
 
 
Daily Insurance Industry News
Saturday 25th of March 2017
May 24, 2011

Chaucer appoints business development team

by Gill Montia

Story link: Chaucer appoints business development team

Chaucer has set up a business development management team at its global energy practice, headed by newly appointed divisional underwriting manager, Gary March. Mr March has over 25 years of underwriting and broking experience, having held positions at The Travelers Companies, Inc. and JLT Group. The seven-strong team brings together energy and nuclear insurance expertise, […]



Chaucer leads new Marsh charterer’s product

by Gill Montia

Story link: Chaucer leads new Marsh charterer’s product

Chaucer Syndicates has announced leadership of a new charterer’s default insurance product offered by Marsh, which includes specialist wordings developed by both parties. In the event of a financial default under the charter party, the insurance provides protection for the shipowner’s income, including provision for the impact of changes in spot charter rates. As the […]



April 6, 2011

Chaucer & partners launch Russia’s first Lloyd’s coverholder

by Gill Montia

Story link: Chaucer & partners launch Russia’s first Lloyd’s coverholder

Chaucer has announced a new partnership with Nakhodka Re in Moscow and RFIB Ltd in London, to launch SeaLine, the first Lloyd’s coverholder in Russia. SeaLine, which received Lloyd’s coverholder approval last week, will underwrite cargo reinsurance risks across Russia’s Commonwealth of Independent States (CIS). Commenting on developments, Chaucer Syndicate 1084 head of production, Andrew […]



December 9, 2010

Chaucer launches International Liability Division

by Gill Montia

Story link: Chaucer launches International Liability Division

Chaucer’s new international liability division is open for business. Mark Lawrence has joined Chaucer Syndicate 1084 to head up the unit, having moved from Argo International, where he was joint active underwriter of Syndicate 1200 and responsible for all casualty business. Recruitment of the remainder of the team is complete and includes specialist class underwriters, […]



November 18, 2010

Chaucer reshapes into Foundation, Flex and Flagship

by Gill Montia

Story link: Chaucer reshapes into Foundation, Flex and Flagship

Chaucer has reported on a strategic review that will result in the business reshaping into three elements as follows: Foundation, Flex and Flagship. Foundation refers to Chaucer’s 27 specialist London classes, including the firm’s new international division, and the UK division, which together should provide “the profit potential, capital benefits of diversification and volatility management […]



July 19, 2010

Chaucer opens Latin American office

by Gill Montia

Story link: Chaucer opens Latin American office

Chaucer has expanded in Latin America with the opening of a new office in Buenos Aires. The move will allow the Lloyd’s insurer to access facultative property and related risks in the region, on behalf of Chaucer Syndicate 1084. Uwe Fischer has been appointed general manager of the new operations and will be joined by […]



August 27, 2009

Chaucer streaks ahead 40% on premium income

by Gill Montia

Story link: Chaucer streaks ahead 40% on premium income

Specialist motor insurer, Chaucer, has reported a stunning first half with premium income up an annual 38.2%, to £491 million, and pre-tax profit soaring 300% to £17.0 million. Profit before tax and foreign exchange adjustments on non-monetary items stood at £52.6 million, compared with £3.4 million in the same period of 2008. First-half underwriting profit […]



July 10, 2009

Chaucer extends Teceris fraud detection contract

by Gill Montia

Story link: Chaucer extends Teceris fraud detection contract

Chaucer Insurance has awarded a three-year contract extension to Teceris, the claims services firm. The move means Chaucer will continue to use Teceris’ claims screening service, which is based on a combination of Voice Risk Analysis and Conversation Management. According to the Lloyd’s insurer, the system delivers benefits to genuine customers by allowing legitimate claims […]



June 26, 2009

Pamplona increases Chaucer stake

by David Masters

Story link: Pamplona increases Chaucer stake

London-based Pamplona Capital Management has upped its stake in insurer Chaucer Holdings, adding 34.4 million shares to the 54.8 million shares it acquired earlier this week. The acquisition, subject to FSA approval, takes Pamplona’s stake in Chaucer to 16.27%, and values Chaucer’s stock at 44 pence per share. Private equity firm Pamplona confirmed that it […]



June 24, 2009

Chaucer directors quit on failure of Brit offer

by Gill Montia

Story link: Chaucer directors quit on failure of Brit offer

The collapse of Brit’s possible offer for Chaucer has resulted in radical changes to Chaucer’s board. Chief executive officer, Ewen Gilmour, is retiring this year and the firm’s chief underwriting officer, Bob Stuchbery, has taken over Mr Gilmour’s duties. Chief financial officer (CFO), Mark Graham, has stepped down with immediate effect and Chaucer finance director, […]



June 23, 2009

Pamplona acquires Chaucer stake

by David Masters

Story link: Pamplona acquires Chaucer stake

Pamplona has acquired a 7.4% stake in Chaucer, locking horns with Brit Insurance over its proposed takeover of the struggling Lloyd’s of London insurer. The London-based private equity group, financed by Russia’s Alfa Bank, said it intends to purchase a third of Chaucer’s outstanding shares. “We have bought 7.4% of the company today and we […]



June 22, 2009

Brit reveals details of Chaucer offer

by Gill Montia

Story link: Brit reveals details of Chaucer offer

Brit Insurance has revealed further details of its possible offer for Chaucer Holdings. The group has confirmed a proposal to the board of Chaucer in the following terms: 0.23 new Brit ordinary shares for every existing Chaucer share; a recommendation from the Board of Chaucer. The proposed all-share deal would result in Chaucer shareholders owning […]



June 15, 2009

Brit in merger talks with Chaucer

by David Masters

Story link: Brit in merger talks with Chaucer

UK-based Brit Insurance Holdings confirmed Friday that is in merger talks with Lloyd’s of London insurer Chaucer. Brit said any offer would be on an all-share basis. Chaucer responded with a cautious statement warning that there is “no certainty” an offer will be made. “A further announcement will be made when a conclusion to these […]



March 13, 2009

Novae will not acquire Chaucer

by David Masters

Story link: Novae will not acquire Chaucer

Rival underwriters Novae and Chaucer will not merge after talks between the two companies fell through. Novae said it had not been possible to work out a deal that was in the interests of shareholders. Chaucer, which recently reported its first annual loss in seven years, said it is in continued discussions with other companies […]



February 11, 2009

Chaucer to raise capital despite takeover bids

by David Masters

Story link: Chaucer to raise capital despite takeover bids

Chaucer Holdings PLC will press ahead with plans to raise £75 million through issuing shares despite receiving takeover offers. The company confirmed that since it announced plans to raise funds it has received a number of approaches which may lead to acquisition offers. However, the approaches are still at an early stage and subject to […]



February 9, 2009

Chaucer reports takeover interest

by Gill Montia

Story link: Chaucer reports takeover interest

Lloyd’s insurer and reinsurer, Chaucer, has reported that it has received interest from a number of parties since announcing that it was exploring options to raise capital. At the end of last month the company revealed plans to raise £75 million (net of expenses) “in light of the improving underwriting outlook for the insurance sector […]



January 26, 2009

Chaucer admits plans to raise capital

by David Masters

Story link: Chaucer admits plans to raise capital

Lloyd’s insurer Chaucer Holdings has confirmed reports that it is exploring options to raise capital. A statement from Chaucer read: “The company confirms that it is currently exploring its options for raising capital in light of the improving underwriting outlook for the insurance sector and the company’s capital requirements.” The comments were made following a […]



May 19, 2008

Chaucer reports ‘satisfactory’ Q1 performance

by David Masters

Story link: Chaucer reports ‘satisfactory’ Q1 performance

Lloyd’s insurer Chaucer Holdings PLC has reported its results for the first quarter, with gross written premiums up marginally on year to £181.2 million. This is compared to gross written premiums of £178.9 million for the first quarter of 2007. The London-based insurer said that despite no major catastrophes during the quarter, insured market losses […]



March 11, 2008

Chaucer’s record profits exceed £89 million

by David Masters

Story link: Chaucer’s record profits exceed £89 million

Chaucer Holdings have announced their preliminary results for 2007, with record profits before tax of £89.4 million. The Lloyd’s insurer saw profits increase by 4% for the year ending 31 December 2007. Gross written premiums, however, were down to £584.1 million compared to £594 million in 2006. The groups combined ratio improved by 3.1 percentage […]



November 30, 2007

Chaucer Announce Growing Dividend Payments

by Stewart Douglas

Story link: Chaucer Announce Growing Dividend Payments

Insurance parent company Chaucer Holdings has today announced that its board of directors have recommended an increased dividend payment of £5.00 per share, up 25% from the dividend declared by the company last year, reflecting an increase in profitability overall from its insurance business divisions. The company, which holds amongst others insurer Chaucer has announced […]