China Re buys Chaucer Group for $950m
Previous owner Hanover appointed Goldman Sachs earlier this year to explore options.
China Reinsurance has bought Chaucer Group from Hanover Insurance for $950m (£726m).
The sum is made up of $865m in cash and a pre-signing dividend from Chaucer of $85m received in the second quarter of this year.
The deal consists of Hanover Insurance International Holdings, Chaucer Insurance and Hanover Australia.
It is subject to shareholder and regulatory approval and is expected to close later this year or in the first quarter of 2019.
News of Chaucer being for sale first surfaced this
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