Specialty reinsurance group Chaucer has announced the launch of its new Belt and Road Consortium at Lloyd’s. The consortium will initially underwrite political violence risks, with future products in development for other lines of business.
China’s Belt and Road Initiative (BRI) is the world’s largest infrastructure programme, with projects spanning the transport, telecommunications and renewables sectors across 65 countries. The programme includes more than 2,600 individual projects with a combined value of US$3.7 trillion.
The Chaucer consortium will work with China Re – Chaucer’s parent company – to provide large-scale capacity of up to US$400 million (around SG$536.67 million) for