Insight and Intelligence on the Global Facultative Markets

5 February 2012

Chaucer US D&F shifts gears to excess

27 August 2010

Chaucer's US Direct & Facultative (D&F) division intends to write less primary business and concentrate on high excess business going forward, the company said this week as it unveiled pre-tax H1 profits which fell by 59 percent to £7mn in the first six months of the year.

The downturn in results was driven by H1 catastrophe losses, a fall-off in reserve releases, professional liability legacy losses and the underperformance of the UK business.

Chaucer reaffirmed its loss estimates for February&#...

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