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Chaucer, the specialist insurer and member of The Hanover Insurance Group, Inc. (NYSE: THG), today announced the acquisition of SLE Holdings, known in the market as SLE Worldwide Australia, a market-leading underwriting agency and Lloyd’s coverholder based in Sydney, Australia. SLE writes a broad range of specialty property and casualty products, with a focus on the sports, leisure and entertainment markets.
SLE’s expertise and capabilities increase the specialty product capabilities of Chaucer’s Syndicate 1084 and enhance Chaucer’s competitive position in Australia. SLE will gain access to additional resources through the acquisition, helping the firm develop its business and capitalise on new growth opportunities.
SLE, founded in 2009 by Brad French, is a recognised leader for product innovation, broker-friendly technology and customer service. SLE includes Pacific Underwriting, a specialist commercial/industrial managing general underwriter.
"We are delighted to welcome the SLE team to our organisation," said John Fowle, chief executive officer of Chaucer. "This acquisition is an excellent strategic fit. 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."
"This acquisition will enable us to expand our specialty capabilities as part of our long-term growth strategy, Hanover 2021," said Joseph M. Zubretsky, president and chief executive officer at The Hanover. "SLE will provide us with additional underwriting expertise, new product capabilities and greater access to the Australian market."
"We look forward to joining the team. 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, said Brad French, managing director of SLE. "This relationship also provides the strong platform needed to continue our profitable growth in this market."