Bermuda-based Ironshore Inc announced the formation of Ironshore Europe Limited, domiciled in Dublin, Ireland. Fiona Marry has been appointed as CEO of the new insurer. She will report to the Ironshore Europe Limited Board chaired by Mark Wheeler, who also serves as CEO of Ironshore International.
Ironshore described the new company as an “expansion of the Ironshore international platform in response to heightened global demand for insurance coverages of complex risk. Ironshore Europe will augment Ironshore’s existing presence in the U.S., U.K., Canada, and Bermuda.”
It will “underwrite a diverse range of specialty lines of businesses offered within the Ironshore group of insurance companies. Ironshore was granted a Certificate of Authorization from the Central Bank of Ireland in December 2010, and operations take effect immediately.”
Wheeler commented: “Ironshore Europe builds upon the company’s growing franchise to serve international clients and provides the capital flexibility for Ironshore to engage in strategic opportunities.”
Marry has twenty years of experience within the international insurance industry. Most recently, she was European Casualty Manager for Allied World Assurance Company Dublin Limited. She has also served as Vice President of Underwriting for XL European Insurance having joined the company in 1991.
“Ironshore Europe offers a European access point for global brokers and carriers that are either existing or new clients,” Marry stated. “The result is the creation of new distribution channels to broaden the Ironshore brand to European markets.”
Wheeler added that the creation of the entity provides a subscription market for U.S.-domiciled corporations seeking risk syndication in European markets and in particular the pent-up demand within the U.S. Casualty sector.
He noted that “Ironshore Europe can now be a conduit to deploy Ironshore’s suite of products and underwriting capabilities specifically designed to meet the coverage needs of both U.S and multi-nationals in all of the company’s core competencies.”