London-based specialty insurer buys Australian underwriting agency

Chaucer, a specialist insurer and member of The Hanover Insurance Group, has acquired SLE Holdings, known in the market as SLE Worldwide Australia, an underwriting agency and Lloyd’s coverholder based in Sydney.

“We are delighted to welcome the SLE team to our organisation,” said John Fowle, Chief Executive Officer of Chaucer. “This acquisition is an excellent strategic fit. It will enable us to increase our presence in this important market, giving us greater access to high-quality business and bringing us closer to our customers, while providing for a broader distribution of other Chaucer products in the future.”

SLE writes a broad range of specialty property and casualty products, with a focus on the sports, leisure and entertainment markets.

Its expertise and capabilities increase the specialty product capabilities of Chaucer’s Syndicate 1084 and enhances Chaucer’s competitive position in Australia, the company states.

SLE was founded in 2009 by Managing Director Brad French, and includes Pacific Underwriting, a specialist commercial/industrial managing general underwriter.

French said: “We look forward to joining the team. Chaucer has a strong and well-recognised Lloyd’s brand and we are excited about working with the Chaucer team to expand our current business offering. This relationship also provides the strong platform needed to continue our profitable growth in this market.”