US-based The Hanover Insurance Group is setting up a new specialty business in Dublin through its international member subsidiary, Chaucer.
The Central Bank of Ireland has approved the formation of Chaucer Insurance Company DAC – to be known as Chaucer Dublin – for international specialty insurance. Currently The Hanover underwrites business at Lloyd’s of London via Chaucer.
Joseph Zubretsky, president and chief executive officer at The Hanover, said Chaucer Dublin will provide the firm with enhanced specialty capabilities. Meanwhile, Chaucer CEO John Fowle said the formation of Chaucer Dublin is a win for brokers and clients as it enables greater access to Chaucer’s underwriting talent.
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“With the addition of this new platform, Chaucer offers its clients the benefits of both Lloyd’s and company market platforms, providing greater flexibility, and increases its access to business worldwide,” noted Zubretsky.
Chaucer Dublin will be headed by Michelle Moore, former managing director and chief operating officer of Markel Europe. Moore has more than two decades of experience in the international insurance and reinsurance markets.
Fowle said they look forward to providing new and innovative insurance solutions in Dublin, citing the strength of Ireland’s financial services capabilities, international outlook, regulatory capabilities, and proximity to London.
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