Chaucer Insurance Company sees S&P Global ratings upgrade to ‘A’.
Chaucer Insurance Company DAC, the Irish-headquartered subsidiary of Chaucer, the leading global (re)insurance group, has seen its credit rating upgraded by Standard & Poor’s (S&P) Global to an ‘A’ from ‘A-’. The upgrade reflects the strength of the balance sheet both of Chaucer Insurance Company, and of Chaucer’s parent company, China Re.
Chaucer Insurance Company was established to provide Chaucer’s brokers and clients with greater choice by allowing them to purchase insurance and reinsurance cover outside of the Lloyd’s market. As well as its base in Dublin it also has branches in the UK, Denmark and Bermuda. Chaucer Insurance Company is additionally rated ‘A’ by A.M. Best.
John Fowle, CEO of Chaucer says: “This ratings upgrade is further indication that our insurance company continues to go from strength to strength. It also shows the advantages provided to our customers and ourselves of having the strength of China Re’s balance sheet behind us.”
“In the four years since its establishment, Chaucer Insurance Company has played a strategically important role in Chaucer’s ambitious growth agenda. S&P’s research update is further acknowledgment of the company’s role within both Chaucer and China Re.”