Chaucer, the international specialty (re)insurance group, is pleased to announce that AM Best has assigned a Financial Strength Rating of A (Excellent) to Chaucer Insurance Company DAC, their insurance company domiciled in Ireland. The Rating outlook is stable.
In announcing the rating, AM Best acknowledged the strength of “China Re’s rating building blocks” and the benefit that Chaucer Insurance Company receives from the support provided by China Re, including “intra-group reinsurance and a net worth maintenance agreement”. The rating also recognises that Chaucer Insurance Company “is set to be a key engine for China Re’s overseas growth, namely in the European Economic Area market, United Kingdom and the United States."
Michelle Moore, General Manager of Chaucer Insurance Company, said,
“The rating highlights our strong foundations and ambitious plans for the business. Our strategy is to provide access to the benefits of Chaucer's underwriting expertise and innovative specialty products through company or syndicate paper, and I am confident that the new rating will be of great benefit to our brokers and clients.”
To download the press release, please click here.