London-based specialist insurer Chaucer has acquired Sydney-based underwriting agency and Lloyd’s coverholder SLE Holdings.

SLE Worldwide Australia writes a broad range of specialty property and casualty products, with a focus on the sports, leisure and entertainment markets.

It was founded by Brad French and includes Pacific Underwriting, a specialist commercial/industrial underwriting agency.

Mobius Underwriting Australasia, which is also owned by Mr French, is not included in the sale.

“This acquisition is an excellent strategic fit,” Chaucer CEO John Fowle said. “It will enable us to increase our presence in this important market, giving us greater access to high-quality business and bringing us closer to our customers, while providing for a broader distribution of other Chaucer products in the future.”

Mr French says the deal with Chaucer will allow SLE to expand its current business offering.

“This relationship also provides the strong platform needed to continue our profitable growth in the market,” he said.