Chaucer confirms capital raising plans

Chaucer has confirmed reports that it is considering raising extra funds.

The Lloyd's insurer said the move was in reaction to a positive underwriting outlook.

In an announcment to the London Stock Exchange, Chaucer said: "The company confirms that it is currently exploring its options for raising capital in light of the improving underwriting outlook for the insurance sector and the Company's capital requirements."

The company added that it would update shareholders on the situation when it was appropriate.

See earlier report: Chaucer to tap shareholders