China Re buys Chaucer Group for $950m

China map

China Reinsurance has bought Chaucer Group from Hanover Insurance for $950m (£726m).

The sum is made up of $865m in cash and a pre-signing dividend from Chaucer of $85m received in the second quarter of this year.

The deal consists of Hanover Insurance International Holdings, Chaucer Insurance and Hanover Australia.

It is subject to shareholder and regulatory approval and is expected to close later this year or in the first quarter of 2019.

News of Chaucer being for sale first surfaced this

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: