Chaucer, the specialist insurance group, today announces that the Central Bank of Ireland has approved the formation of a Dublin-based company that will trade under the name of Chaucer Dublin (incorporated in Ireland as Chaucer Insurance Company DAC) to write international specialty insurance and reinsurance business.
Chaucer Dublin, which plans to write a broad range of international specialty business, will provide Chaucer’s clients with greater platform choice and flexibility, and well as support Chaucer’s international development. Chaucer Dublin has an S&P ‘A’ rating through The Hanover Insurance Group, Inc.
Michelle Moore, former managing director and chief operating officer of Markel Europe, will lead Chaucer Dublin. Michelle is a highly respected industry executive with over 20 years of experience in the international insurance and reinsurance markets, including senior executive roles in Dublin, London and Bermuda.
Rob Callan, Chief Finance Officer at Chaucer, said: “Our new carrier in Dublin increases our trading capabilities and flexibility, providing a complementary platform to Lloyd’s for client business. We have received excellent support from the Central Bank of Ireland throughout the authorisation process and now look forward to working with our new team in Ireland to provide a first class international specialty platform for clients.”
Michelle Moore, General Manager of Chaucer Dublin, said, “I am delighted to be joining Chaucer to lead its new operation in Ireland. We see this as complementary to our Lloyd’s portfolio and a significant addition in our efforts to provide brokers and clients with an innovative and first class service.”
Commenting on the announcement, Martin Shanahan, CEO IDA Ireland, said, “Over the last 20 years, Ireland has earned a deserved reputation as a centre of excellence for international specialty insurance. Chaucer’s choice of Dublin for this operation is another important signal to the market that financial services companies can establish here quickly in order to service their international and European customers, with minimum disruption to their business. Ireland has the right mix of regulation, skills, experience and office space to make us a very logical place for financial services to locate.”