’I am incredibly proud of the strength of our culture and the results we have delivered together,’ says departing chief executive 

John Fowle has announced that he will step down from his role as chief executive of (re)insurance company Chaucer.

Fowle joined the company in 2002 as a specialist lines underwriter before working his way up to chief executive in 2017.

In a statement released yesterday (6 June 2023), Fowle said he would step aside on 30 June 2023 to “pursue new opportunities”.

“I have a great affection for Chaucer and its people and I am incredibly proud of the strength of our culture and the results we have delivered together,” he added.

“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.”

’Great position’

As Fowle announced his departure, Chaucer said it remained in a “great position”.

“Our sustained growth in premium and reputation and consistently strong operating performance underline the health of the business,” it added.

Fowle said: “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.”

Paul Jardine, non-executive chair, said Fowle had been “instrumental” in Chaucer’s success, particularly since it was acquired by China Re in 2018.

“The business has delivered on the five-year post-acquisition plan, including the doubling in size of the business while delivering market leading results,” he said.

“John will be greatly missed and we wish him well for the future.”

While the search a successor is underway, Rob Callan will take on the role of interim chief executive alongside his duties as chief financial officer.

“We are now entering into a process of identifying John’s successor but, with Rob as interim group CEO – and the combination of our hugely talented leadership team and our superb colleagues – the business is in very capable hands,” Jardine added.