Chaucer

The upgrade seeks to reflect the strength of Chaucer Insurance Company and its parent company China Re’s balance sheets, S&P said.

The appointment follows the departure of underwriter Alex Harris, who has joined Antares.

The respected underwriter, who has worked at the business for more than two decades, will be replaced by Harriet Sharp.

The marine specialty unit will include marine PI and transport logistics and freight forwarder business.

Demand is growing for insurance capacity to cover less carbon-intensive energy sources.

Political risks and contract frustration coverage will now be available alongside the original political violence offering.

Specialty (re)insurer Chaucer has appointed Xamira Groves as its new head of insurance, where she will work closely with the group’s syndicates to expand global market share across multiple P&C lines.

Markel, Beazley, Hiscox, Chaucer, Brit and Liberty Specialty Markets are all participants in the product development.

The consortium, created with China Re, will later expand to include other lines of business.

The marine, energy and aviation chief will work as deputy active underwriter until the end of the year.

The Chaucer CEO on international expansion, casualty reserving and the long road to price adequacy.

The insurer is to occupy three floors in the tower, taking up 44,000 square feet of office space.