The Hanover has released $680mn of Chaucer reserves since acquisitionWith an unprecedented number of Lloyd’s businesses potentially available for sale, The Hanover’s 2011 acquisition of Chaucer highlights the advantages of acquiring a well-reserved insurance company.
Chaucer expects casualty premiums to fall 11%Up-for-sale Lloyd’s carrier Chaucer expects its casualty book to shrink over the next two years according to a business plan seen by re-Insurance.com.
Up-for-sale Chaucer hikes 2018 reinsurance spendLike its fellow up-for-sale (re)insurer Aspen, Lloyd’s carrier Chaucer has dramatically hiked its reinsurance spend in 2018 after last year’s heavy losses, re-Insurance.com can reveal.
The Hanover would use Chaucer sale to fund US growthJohn Roche, CEO of The Hanover has said that the firm would use the proceeds from the sale of its Lloyd’s business and international arm Chaucer to finance domestic expansion.
The Hanover smashes profit estimates as Chaucer sale still on the cardsThe Hanover comfortably beat earnings expectations to post a profit of $84mn in the first quarter as the carrier hailed the performance of its up-for-sale Lloyd’s business Chaucer.
S&P downgrades Chaucer as Hanover eyes saleRatings agency S&P has lowered Chaucer’s financial strength rating (FSR) by one notch from A to A- as the Lloyd’s carrier’s US owner The Hanover Group (THG) weighs up selling off the business.
The Hanover swings to profit as cats hurt ChaucerMassachusetts-based carrier The Hanover swung back into the black for the fourth quarter, posting operating income of $86mn or $2.00 per share compared to an operating loss of $19.7mn in the prior year period.