Chaucer Forms New Engineering Risk Underwriting Team

Chaucer Syndicates Limited, the managing agency division of Lloyd’s insurer Chaucer Holdings PLC, has recruited a new team to underwrite an engineering account on behalf of the Property Division of Chaucer’s Lloyd’s Syndicate 1084.

“The team comprises Peter Hamilton, Adrian Traveller and Andrew Vince, who have a combined London market underwriting experience of over 60 years,” said the bulletin. “The team joins from the Global Swiss Re London-based engineering team, created from the absorption of the GEIS portfolio into Swiss Re.”

Chaucer’s new underwriters “will focus on underwriting construction and erection all risks, operational power and machinery breakdown written on a direct, facultative and treaty basis for Chaucer Syndicate 1084,” the announcement continued. “This business forms part of the Syndicate’s proposed capacity increase to £485 million [$919 million] for the 2007 year of account.”

Traveller, speaking on behalf of the new team, commented: “We are delighted to be given this opportunity to develop Syndicate 1084′s engineering profile in the Lloyd’s market.”

Bruce Bartell, Active Underwriter of Syndicate 1084, noted: “We are pleased that the team has decided to join Chaucer Syndicate 1084 where they will add strength and portfolio diversification to our Property Division.”