Reinsurance group Chaucer has announced its group CEO, John Fowle, has decided to step down effective June 30, 2023.
Group CFO Rob Callan will step in as interim group CEO, subject to regulatory approval, while the search for Fowle’s successor is underway.
Fowle leaving Chaucer ‘in great shape
Fowle joined Chaucer in 2002 and was appointed CEO in 2017. In a Press release, he said the past six years had been “hugely fulfilling.”
“I have a great affection for Chaucer and its people,” he said. “I am incredibly proud of the strength of our culture and the results we have delivered together.
“After 20 years with Chaucer, however, I have decided that it is the right moment in my career to step aside and pursue new opportunities, letting the next leader of Chaucer build on what we have achieved.
“I am happy that I leave the business in great shape, with a fantastically capable senior team, brilliant colleagues, and a very supportive owner in China Re. I wish everyone in Chaucer the very best for the future.”
Chaucer’s Press release said that the company’s “sustained growth in premium and reputation and consistent strong operating performance underline the health of [its] business.”
Chaucer moving forward
Paul Jardine, non-executive chair of Chaucer, commended the outgoing leader for his leadership and said he would be “greatly missed.”
“John has been an inspirational group CEO and leaves Chaucer in an extremely strong position to thrive as we look forward,” Jardine said. “He has been instrumental in driving the successful performance of the business over many years and particularly since Chaucer was acquired by China Re.
“The business has delivered on the five-year post-acquisition plan, including the doubling in size of the business while delivering market-leading results.”
Dr. He Chunlei, chairman of the China Re Group, commented: “We would like to extend our sincere thanks to John for his leadership since Chaucer became part of China Re. As Chaucer’s group CEO, he has overseen the organization’s exceptional performance during that time.
“We are proud and committed owners of Chaucer and we are very much looking forward to its continued growth and future success.”
Chaucer, an international specialty insurance and reinsurance group, is headquartered in London, with hubs in Europe, Bermuda, Latin America, and Asia. It was acquired by China Re in 2018.