Find out more about Chaucer in the news, including new underwriting appointments, financial performance and our work in the community
Chaucer, the specialist Lloyd’s insurance group, today announced the expansion of its international property underwriting capabilities, with the appointment of John Eggleston as Head of International Property Fac and Richard Richards as Class Underwriter International Property Fac.
John and Richard join Chaucer’s highly regarded International Property Team, which provides clients with a commercial approach and a strong technical underwriting focus.
John Eggleston and Richard Richards are both highly experienced and respected international property underwriters with over 40 years of combined market experience. Both underwriters join Chaucer from Generali John Fowle, Chief Underwriting Officer at Chaucer, said:
‘We are excited to welcome John and Richard to Chaucer. Their intelligent underwriting approach and extensive international property experience dovetails perfectly with our philosophy of delivering underwriting relevance for clients in all markets where we participate”.
John Eggleston, Head of International Property Fac, said:
“I am looking forward to returning to the Lloyd’s market where I began my career, and to joining Chaucer, where we aim to build upon the successful portfolio that Ed Lines and Alex Campbell have developed”.
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We are pleased to announce the expansion of our Accident & Health capabilities, with the appointment of Mike Bridgeman and Amelia Fenton in London. The Team will write standard and specialist products providing death, disability, medical and ancillary benefits for a range of groups and individuals, including schemes and affinity groups.
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WORCESTER, Mass., July 28, 2016 /PRNewswire/—The Hanover Insurance Group, Inc. (NYSE: THG) today reported net income of $2.0 million, or $0.05 per diluted share, for the second quarter of 2016, which included a previously announced non-operating charge of $56.0 million, net of tax, on the retirement of debt. This compared to net income of $120.7 million, or $2.68 per diluted share, in the prior-year quarter, which included a non-operating gain of $40.3 million, net of tax, on the sale of the U.K. motor business on June 30, 2015. Operating income was $54.0 million, or $1.24 per diluted share, for the second quarter of 2016, compared to $70.4 million, or $1.56 per diluted share, in the prior-year quarter.
Second Quarter Highlights
• Combined ratio of 97.3%, including 4.5 points of catastrophe losses
• Chaucer segment results impacted by catastrophe and large losses, as well as movement in foreign exchange rates
• Net premiums written(2) of $1.2 billion; down 5.6%, driven by the sale of the Chaucer U.K. motor business; U.S. net premiums written grew 2.9%
• Continued price increases in Commercial and Personal Lines
• Net investment income of $69.1 million
• Repurchased approximately 230,000 shares of common stock for $19.1 million, at an average price of $83.19 per share
• Book value per share of $70.58, up 1.8% from March 31, 2016, and up 6.6% from December 31, 2015; book value per share excluding net unrealized gains on investments of $62.99, down 0.8% and up 0.4%, respectively
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