He Chunlei, vice chairman and president of China Re, commented: “Chaucer is an outstanding performer in the Lloyd’s market run by a well-respected management team with business access to more than 200 countries and regions across the world. Hanover Insurance Group has finalised the 100% equity sale of Chaucer Holdings to China Reinsurance (Group). London-based Chaucer makes up a major portion of Hanover's Lloyd's international specialty unit and its acquisition by China Re is expected to close by the end of March, subject to regulatory approval. The transaction will see Chaucer take over all existing business interests in Hanover, including those related to the company's global operations as well as its UK operations.
Hanover Insurance Group has finalised the 100% equity sale of Chaucer Holdings to China Reinsurance (Group). London-based Chaucer makes up a major portion of Hanover's Lloyd's international specialty unit and its acquisition by China Re is expected to close by the end of March, subject to regulatory approval. The transaction will see Chaucer take over all existing business interests in Hanover, including those related to the company's global operations as well as its UK operations.