In 2016, JPO was appointed as Consultant Deal Lead by Chaucer Syndicates Limited (CSL) on the formation of a 10-year strategic partnership with AXA to expand its speciality portfolio in Africa.
By initiating a detailed market assessment with the Executive Team, a viable opportunity arose for CSL to gain strategic advantage via the Africa speciality insurance market. With AXA’s already widely present footprint within Africa and benefiting from a large distribution network, this was an opportunity for Chaucer to gain further momentum in Africa and widen their speciality reach, whilst providing Lloyd’s speciality insurance underwriting expertise.
Hired to bring rational and forward-thinking planning into the mix, JPO worked collaboratively with the Executive Team on the formation of a Special Purpose Syndicate with AXA. It was essential to devise a creative deal framework that would result in the most effective outcome for CSL and ultimately pave the way to future successes in their ever-growing global portfolio.
JPO acted as an architect in the overall planning and structuring of all execution activities associated with the first-ever development of an African division with Lloyd’s through CSL. JPO led the design and implementation of the Target Operating Model, resulting in a $10m USD deal inclusive of a 6-years in-sourcing agreement. With solid expertise in dealing with international regulations, JPO managed the entire process for setting up and gaining the necessary regulatory approvals for the new Lloyd’s Special Purpose Syndicate 6130, as well as for a Lloyd’s Cover Holder based in Mauritius.
Trusted in our pragmatic approach to integration, JPO managed the entire integration workstream and co-ordinated the integration programme governance and deal governance (UK Board).
This successful deal allowed CSL to leverage their underwriting footprint and knowhow on AXA distribution capability unlocking further growth opportunities.
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AXA & Chaucer Form Strategic Partnership to Provide African Specialty Insurance
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