Lloyd’s underwriter Chaucer Group announced an international direct and facultative property “Smart” consortium using InsurX’s exchange technology.
The partnership gives London Market brokers access to algorithmic capacity to follow Chaucer’s quotes. They can use InsurX’s platform to secure primary, excess, lead, or follow quotes for internationally domiciled clients.
Chaucer aims to meet rising demands for faster service and increased capacity by collaborating with InsurX. This approach enables Chaucer to provide substantial capacity within hours of issuing a quote, said Mel Smart, head of international property at Chaucer.
The Smart consortium allows Chaucer to strengthen its lead offering by adding capacity through InsurX.
Enhanced processing through platforms like PPL and Whitespace helps brokers speed up placements and drive more business into the London re/insurance market.
Gilbert Harrap, CEO of InsurX, said the company has worked with Chaucer since 2023, when Chaucer first launched algorithmic capacity in the contingency market using InsurX’s technology. The latest collaboration expands their work to include international D&F property.
We have been working closely with Chaucer since 2023, when they first launched algorithmic capacity in the contingency market using InsurX’s exchange technology
Gilbert Harrap, chief executive officer, InsurX
Earlier, managing general agent Rokstone, part of the Aventum Group, secured a three-year binding agreement with Aviva plc for its direct and facultative property portfolio.
This deal allows Rokstone to write global D&F property business with a per-risk limit of $2 mn, targeting gross written premiums of more than $200 mn over the term.
Chaucer Syndicates is a specialist Lloyd’s insurance Group. At the core of the business is Syndicate 1084, which deploys expert underwriters in all major insurance and reinsurance classes.
Chaucer Syndicates has offices in London, Copenhagen, Miami, Dubai, Oslo, Malaysia and Singapore. Our parent company is China Reinsurance (Group) Corporation, a leading reinsurer in China, and one of the top 10 reinsurers in the world, which maintains excellent security ratings from A.M. Best and Standard & Poor’s.
