Chaucer, the international specialty (re)insurance group, is pleased to announce the launch of a new reinsurance branch in Bermuda to provide US clients with greater access to its specialty underwriting expertise and capacity. This follows the receipt of the necessary regulatory approvals from the Bermuda Monetary Authority and the Central Bank of Ireland.
Chaucer will operate as a Class 4 (re)insurer in Bermuda, writing a range of US property, casualty and specialty reinsurance business for Chaucer Insurance Company, which launched in Dublin in 2017 to provide clients with more platform and security choice and to support Chaucer’s growth plans. Chaucer Insurance Company has a Financial Strength Rating of A (Excellent) from AM Best and benefits from the outstanding financial strengths of Chaucer’s parent company, China Re, the seventh largest reinsurance company in the world.
James Holliss, Chaucer’s Head of US Property Treaty, has transferred to Bermuda to lead the operation, which will consider business on a primary, quota share and excess of loss basis. James is a highly respected underwriter with 20 years of reinsurance underwriting experience at Chaucer, after beginning his insurance career with CNA London. Underwriter Zak Mallen has also joined the team in Bermuda to build a portfolio of US casualty reinsurance business to complement Chaucer’s leading position in London.
"Bermuda is a key market and we are excited to be here,” said John Fowle, Chief Executive Officer of Chaucer. “This move builds on our existing infrastructure as we aim to provide brokers and clients with smart underwriting solutions.”
James Holliss, Head of Bermuda said, “I’m delighted to lead Chaucer’s new branch in Bermuda. I believe that our expertise and service commitment, combined with our financial strength and growth ambitions, means that we will be able to offer a compelling and relevant proposition to this strategically important market.”
Michelle Moore, General Manager of Chaucer Insurance Company added, “Opening our Bermuda branch is a strong statement of our intent to expand Chaucer Insurance Company’s international presence and to grow our business. In James, we have a very highly regarded reinsurance underwriter, with strong relationships in Bermuda and the US. We have bold ambitions to grow our Bermudian operation, and anticipate adding both personnel and product lines in the near future.”
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