Exclusive Structuring and Placement Agent to Chaucer sponsored Thopas Re Ltd. Series 2023-1 Preference Shares

Transaction Overview

Chaucer successfully renewed its reinsurance sidecar vehicle, Thopas Re Ltd., for 2020

  • Provided collateralized capacity for Chaucer Syndicate 1084’s global reinsurance portfolio
  • Terms of the transaction were undisclosed

Thopas Re Ltd. is an integral part of Chaucer’s reinsurance strategy

  • Provides Chaucer with greater scope and flexibility to support the evolving needs of its clients

Chaucer is a leading international specialty insurance group

  • Protects clients in over 200 countries through its offices in Europe, MENA, Latin America and Asia
  • Provides clients with market-leading cross class capabilities and a tailored approach
  • Talented and experienced management team with a proven track record of results
  • In September 2018, The Hanover announced the agreement to sell Chaucer to China Re
    • China Re is a Chinese multi-line insurer writing ~$17.6bn of premiums(a)

Howden Tiger Capital Markets & Advisory Role

HTCMA acted as sole structuring and placement agent to Chaucer

  • Provided advice through all stages of the process, driving an optimal outcome for Chaucer
  • Leveraged the range of Howden Tiger’s capital markets, reinsurance, and analytics capabilities
  • Key transaction steps led by HTCMA included:
    • Provided key structuring and portfolio modeling advice and insight
    • Selected, introduced and arranged meetings with participating investors
    • Offered key insight around transaction terms & conditions
    • Provided critical execution support in drafting of investor materials and deal documentation

(a) As of the time of the transaction.