Chaucer sale still possible

Chaucer said today that discussions were continuing with a number of other parties over a potential sale of the business.

The insurer's statement came after Novae announced earlier today that it was ending discussions over a possible merger. Novae said a deal could not be achieved that was in the best interests of its shareholders.

It was reported today that Pamplona Capital Management, a fund run by Russian financier Alex Knaster, may bid for Chaucer.