On 13 September 2018, China Reinsurance (Group) Corporation (“China Re”) entered into an equity acquisition agreement with The Hanover Insurance Group, Inc. (“The Hanover”) to purchase 100% equity interest of Chaucer1, a global specialty insurance and reinsurance company, at a consideration of US$865 million. The acquisition will further enhance China Re’s competitiveness in reinsurance business, strengthen its position and influence in the international market and promote its capabilities of serving the “Belt and Road Initiative”.
