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But the reinsurer will likely retain its independence, experts say.
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JLT CEO Dominic Burke said acquirer MMC valued the entrepreneurial culture at the firm.
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Moving a step away from short-tail risks could be on the agenda after the insurer's takeover of the ILS giant.
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A change of ownership is envisaged comfortably before year-end, it is understood.
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The French carrier has received final regulatory approval for its $15.3bn acquisition of XL Group.
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Duperreault recognises the quality of the Bermudian reinsurance industry.
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Recent M&A deals point to the prospect of the ILS market disintermediating the reinsurance channel in future, said KBW analyst Christopher Campbell.
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Aon Securities CEO Paul Schultz said he expects more transactions like the Markel-Nephila deal in the year to come.
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Human behaviour now has a smaller role in determining pricing, according to the broker's president and global head of casualty.
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Covea put in an all-cash offer of EUR43 ($49.85) per share for the French reinsurer, however the offer was turned down.
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Chaucer may be the first of a number of Lloyd’s and London market insurers that are up for sale to change hands, sister publication The Insurance Insider has reported.