Chaucer rating unchanged as largest shareholder rejects bid
AM Best Europe has said that the financial strength rating of A (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 1084 and the ICR of “bbb” of Chaucer Holdings are unchanged following the announcement that the board of CH has accepted an acquisition offer from The Hanover Insurance Group.
It added the ratings of syndicate 1084 reflect the financial strength of Lloyd's, which underpins the security of all syndicates.
The ICR of CHP, which provides 95% of the capacity of syndicate 1084
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