Chaucer splits energy unit, eyes several strategic hires in big push for renewables
Lloyd’s re/insurance group Chaucer has set up a specialist team for renewable power as part of its plan to broaden the energy division, and provide dedicated support to customers in the oil and gas sectors as they transition towards cleaner and more sustainable energy production.
The company's energy division will now be split into two teams. The newly created team will be led by Lyndsey Picton (pictured left) as head of renewable power, with the restructured natural resources team led by the current head of upstream James Brown (pictured right), who will assume the role of head of natural resources.
Picton will be responsible for building the group’s capability for underwriting onshore and offshore renewable power risks. Chaucer said the team is in the process of “making several strategic hires”, including a new class underwriter, set to join in the second quarter of 2022.
Meanwhile, the natural resources team will continue to focus on customers across the value chain in the oil and gas sector, both in respect of their existing activities and operations, and in new technologies and assets associated with the transition of the energy industry away from its traditional activities.
Picton has been with Chaucer for 16 years underwriting upstream energy and associated construction risks. She spent five years in Chaucer’s Singapore office developing Chaucer’s energy profile in the region, before returning to London in 2019.
Brown has over 30 years’ experience in the London market; he joined Chaucer in 2009 from Zurich Insurance Group.
Commenting on the move, Kelan Hunt, active underwriter of Syndicate 1084 and head of marine, energy and aviation at Chaucer, said: “ Chaucer is a market leader in underwriting Energy risks and has more than a decade of experience in the Renewable Power market. The establishment of a dedicated team catering to this fast-growing sector will strengthen our proposition and provide the resources needed to service our brokers and clients.
“As major economies develop their policies around sustainably energy and net zero emissions, Chaucer is dedicated to partnering with the energy industry providing innovation, risk management and risk transfer through this transformative period.”
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