International (re)insurance speciality group China re completes the acquisition of the holding company Chaucer insurance Company DAC in Ireland and SLE in Australia, from Hanover Insurance Group.
China Re announced the takeover of the Dublin based Chaucer Insurance Company DAC, and Hanover Australia Hold Co Pty Ltd (SLE) in December 2018 however at the time this was subject to necessary regulatory approval. This has now been received which concludes the sale of Chaucer to China Re.
John Fowle, Chaucer’s CEO said: “Chaucer Dublin and SLE are key members of the Chaucer family and provide valuable services to our customers. Our Irish insurance company offers greater platform flexibility and complementary capacity with the benefit of full parental support from China Re, while SLE provides market leading specialty products in Australia. We are pleased to see these final elements of the transaction completed enabling the whole Chaucer Group to move forward as part of China Re.”