Lloyd’s carrier Chaucer has agreed to acquire Australian underwriting agency and Lloyd’s coverholder, SLE Holdings.

Chaucer said that the acquisition would increase the specialty product capabilities of its Syndicate 1084 and enhance its competitive position in Australia.

The terms of the transaction were not disclosed.

SLE, which is known as SLE Worldwide Australia and was founded in 2009 by Brad French, writes a broad range of specialty property and casualty products, with a focus on the sports, leisure and entertainment markets.

"This acquisition is an excellent strategic fit,” remarked Chaucer CEO John Fowle.

“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,” he added.

SLE includes Pacific Underwriting, a specialist commercial/industrial managing general underwriter.