Chaucer opens new Bermuda office to better serve US clients

Chaucer, the international specialty re/insurance group, has unveiled a new reinsurance branch in Bermuda to serve its US clients.

Chaucer has received regulatory approval from the Bermuda Monetary Authority and the Central Bank of Ireland to operate as a class four re/insurer in Bermuda, writing a range of US property, casualty and specialty reinsurance business for Chaucer Insurance Company.

James Holliss, Chaucer’s head of US property treaty, has transferred to Bermuda to lead the operation, which will consider business on a quota share and excess of loss basis. Holliss has 20 years of reinsurance underwriting experience at Chaucer, having started his insurance career with CNA London.

Zak Mallen has also joined the team in Bermuda as an underwriter to build a portfolio of US casualty reinsurance business.

Michelle Moore, general manager of Chaucer Insurance Company, said the company wants to grow its Bermudian operation and anticipates adding both personnel and product lines in the near future.

“Opening our Bermuda branch is a strong statement of our intent to expand Chaucer Insurance Company’s international presence and to grow our business,” she added.

John Fowle, Chaucer’s chief executive officer, called Bermuda “a key market,” adding: “This move builds on our existing infrastructure as we aim to provide brokers and clients with smart underwriting solutions.”

Holliss said: “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.”

Chaucer launched in Dublin in 2017. It has a financial strength rating of A (excellent) from AM Best and benefits from the support of its parent company China Re.