Underwriting agency SLE has been acquired by specialist insurer and member of The Hanover Insurance Group, Chaucer, it has been announced.
Sydney-based Lloyd’s Coverholder SLE will increase the capabilities and specialty product lines of Chaucer’s Syndicate 1084 and will enhance the firm’s competitive position in Australia.
SLE will gain access to additional resources as a result of the acquisition, Brad French
, founder of SLE said.
“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,” French said.
“This relationship also provides the strong platform needed to continue our profitable growth in this market."
John Fowle, chief executive officer of Chaucer, said that the acquisition is an “excellent strategic fit” for the firm.
“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,” Fowle said.
Joseph M. Zubretsky, president and chief executive officer at The Hanover, noted that the SLE acquisition will allow the group to expand its specialty capabilities as part of a long-term growth strategy called Hanover 2021.
“SLE will provide us with additional underwriting expertise, new product capabilities and greater access to the Australian market.”
Founded in 2009, SLE has a specialisation in the sports, leisure and entertainment markets.
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