Hanover Insurance Group completes sale of its Chaucer-related companies

Hanover Insurance Group has completed the sale of its Chaucer-related companies in Ireland and Australia, Chaucer Insurance Company and SLE Holdings, to China Reinsurance Corporation, for total proceeds of $41 million.

The deal wraps up the sale of The Hanover’s Lloyd’s international specialty business, with majority of the transactions completed on December 28 last year.

“With the sale of these two entities, we have completed the sale of our Lloyd’s international specialty business to China Re,” said John Roche, president and CEO at The Hanover. “We are confident our exclusive focus on our proven and distinctive domestic business will enable us to deliver significant value for our shareholders and other stakeholders.”