Ironshore

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Ironshore
Incorporated
IndustryInsurance
Founded2006
FounderRobert Clements, John Clements
Key people
Kevin Kelley
Websitewww.ironshore.com/ Edit this on Wikidata

Ironshore Inc. provides broker-sourced specialty property and casualty insurance coverages[1] for varying risks on a global basis through its platforms in Australia, Bermuda, Canada, Ireland, Singapore, the United States and the United Kingdom.[2][3][4][5] On Dec 5, 2016, it was announced that Ironshore will be sold to Liberty Mutual in a $3 billion transaction.[6]

History[edit]

The company was founded in 2006, with more than $1 billion in equity, by Robert Clements and his son John Clements, two long-time insurance investors.[7][8][9]

Ironshore named Kevin Kelley as CEO in December 2008.[10][11][12][13] Kelley had been the longtime CEO of Lexington Insurance, which became the largest excess and surplus lines insurer in the world under his leadership.[14] Shaun Kelly resigned as president and Chief Operating Officer of Lexington and was appointed chief executive officer of U.S. Operations for Ironshore. [15]During 2015, Ironshore acquired Dubai based MGA, Visionary underwriting Agency Ltd, a Lloyd's Coverholders founded in 2010 by David Austin.

Operations[edit]

The company's product lines include Aviation, Environmental,[16][17] IronBuilt, IronHealth,[18] IronPro, Marine Re, Personal Lines,[19] Political Risk,[20] Ironshore Programs,[21] and U.S. Property and Specialty Casualty.[22]

The Ironshore group of companies is rated A (Excellent) by A.M. Best with a Financial Size Category of XIV. Ironshore’s Pembroke Syndicate 4000 operates within Lloyd’s with a market rating of A (Excellent) from A.M. Best and A+ from both Standard and Poor’s and Fitch Group. A.M. Best announced in 2012 a revised rating outlook to “Positive” for Ironshore and its subsidiaries.[23][24]

References[edit]

  1. ^ "Ironshore, Inc.: Private Company Information - Businessweek". Investing.businessweek.com. Retrieved 2013-06-17.
  2. ^ Alex Vizer on July 31, 2010 (2010-07-31). "New Brand, New Legacy | Canadian Insurance". Citopbroker.com. Retrieved 2013-06-17.
  3. ^ By Marcia Breen (2012-07-16). "Ironshore makes European appointments | Bermuda Re-Insurance". Royalgazette.com. Retrieved 2013-06-17.
  4. ^ "Advisen FPN". Fpn.advisen.com. 1980-01-01. Retrieved 2013-06-17.
  5. ^ Greenwald, Judy (January 20, 2012). "Ironshore sets up Bermuda center for new property energy coverages". Business Insurance. Retrieved July 1, 2013.
  6. ^ "Liberty Mutual to Buy Fosun's Ironshore for About $3 Billion". Bloomberg.com. Retrieved 2016-12-05.
  7. ^ "Ironshore Goes Big | Risk & Insurance". Riskandinsurance.com. 2009-01-09. Archived from the original on 2013-07-01. Retrieved 2013-06-17.
  8. ^ HighBeam[dead link]
  9. ^ "Insurance Veteran Robert Clements Dies - WSJ.com". Online.wsj.com. 2010-09-07. Retrieved 2013-06-17.
  10. ^ December 10, 2008 at 1:29 am (2008-12-09). "Former Lexington Insurance CEO Kelley Named CEO at Ironshore". Insurancejournal.com. Retrieved 2013-06-17.
  11. ^ "Leadership In an Age of Uncertainty". Insurance Journal TV. 2010-10-04. Retrieved 2013-06-17.
  12. ^ "Ironman Kevin Kelley: Strength Through Multiple Platforms". Insurancejournal.com. 2009-10-05. Retrieved 2013-06-17.
  13. ^ "INTERVIEW: Kevin Kelley – Ironshore Man | Reactions - Global Insurance". Reactionsnet.com. 2010-05-25. Retrieved 2013-06-17.
  14. ^ "Kelley's mettle | IQ". Insiderquarterly.com. Retrieved 2013-06-17.
  15. ^ "AIG's Lexington Loses Another Top Executive as Kelly Joins Ironshore". Insurancejournal.com. 2008-12-10. Retrieved 2013-06-17.
  16. ^ "Ironshore launches environmental product | Reactions - Global Insurance". Reactionsnet.com. 2012-01-11. Retrieved 2013-06-17.
  17. ^ "Ironshore launches new environmental products for Europe". Insurance Insight. Retrieved 2013-06-17.
  18. ^ "Insurer Ironshore Launches Division In Simsbury - Hartford Courant". Articles.courant.com. 2008-03-25. Retrieved 2013-06-17.
  19. ^ "Ironshore Launches Commercial Crime Coverage Through Pembroke Syndicate". Insurancejournal.com. 2012-07-26. Retrieved 2013-06-17.
  20. ^ "Worldwide Uncertainty Highlights Value of Political Risk, Trade Credit Insurance | MyNewMarkets.com Articles about Property Casualty Insurance CoveragesMyNewMarkets.com Articles about Property Casualty Insurance Coverages". Mynewmarkets.com. 2012-07-19. Retrieved 2013-06-17.
  21. ^ "Awareness of Cyber Liabilities Increasing but Agent Education is Key to Selling Policies | MyNewMarkets.com Articles about Property Casualty Insurance CoveragesMyNewMarkets.com Articles about Property Casualty Insurance Coverages". Mynewmarkets.com. 2011-05-11. Retrieved 2013-06-17.
  22. ^ Tsikoudakis, Mike (March 26, 2012). "Ironshore expands SPILL coverage to oil, gas industries". Business Insurance. Retrieved July 1, 2013.
  23. ^ "A.M. Best Revises Outlook to Positive for Ironshore Inc. and Its Operating Subsidiaries". .ambest.com. Retrieved 2013-06-17.
  24. ^ "A.M. Best Revises Outlook to Positive for Ironshore Inc. and Its Operating Subsidiaries". Reuters. 2012-06-11. Retrieved 2013-06-17.

External links[edit]