Consortium 'eyeing Chaucer move'

A consortium comprising investment bank Goldman Sachs and US private equity form TPG is interested in buying Lloyd's insurer Chaucer, The Telegraph reports.

City traders indicated the consortium could pay up to 61p a share for the insurer, the paper said.

Chaucer announced on 7 February that it had received several approaches. Entrepreneur Guy Hands' private equity firm Terra Firma emerged as one of the suitors.

Chaucer will announce its full-year 2010 results on Monday.