Ironshore Completes Pembroke Purchase

Bermuda-based Ironshore Inc. announced that it has completed the transaction with Chaucer Holdings PLC announced on July 1, 2008 to purchase Pembroke Managing Agency Limited, which manages Lloyd’s Syndicate 4000.

“Mark Wheeler serves as Active Underwriter for the Syndicate,” said the bulletin. “Pembroke Managing Agency is led by Mark Butterworth, Managing Director, and Mark Wheeler, Underwriting Director.

“Ironshore will take over the 2009 underwriting year of account onwards and Chaucer will retain the 2008 and prior underwriting years of account.”

CEO Bob Deutsch said Ironshore is “very excited to enter the Lloyd’s market.” he also noted that the acquisition of Pembroke “completes our strategic goal of having underwriting operations in Bermuda, the US and Lloyd’s.”

Source: Ironshore – www.ironshore.com and www.pembrokeunderwriting.com