Well the headline seemed clear enough. The Insurance Insider was in no doubt when it said: “Chaucer in line to join UK tax exodus.”
The intro started boldly too “London-headquartered Lloyd’s insurer Chaucer has ended years of speculation”. By now my appetite was well and truly whetted. Would they be joining Hiscox in Bermuda? Brit in The Netherlands? Or Beazley in Dublin?
Sadly, it transpired that Chaucer CEO Bob Stuchbery was simply reviewing his options. A prudent course for any British CEO, after all the UK tax man is one of the most demanding in the EU.
When headlines scream out like this only to find the story they lead into is speaking in more sedate tones it is hard not to feel that the media does not always help itself against charges of sensationlism.
The story stemmed from an interview that Bloomberg conducted with Stuchbery and ran under the headline: “Chaucer May Leave London as Lloyd’s Insurers Flee Tax.”
Perhaps not as eye-grabbing as The Insurance Insider’s headline but it certainly reflected the story more accurately.