Ironshore International announced its subsidiary, Pembroke Managing Agency, will establish an office in Shanghai in January 2016 as part of the Lloyd’s China platform.
Pembroke Managing Agency will underwrite specialty lines of business, initially focusing on the agriculture, marine and healthcare sectors.
Tracy Ma has been appointed underwriting manager of the entity, reporting to Hui Yun Boo, managing director of Ironshore’s Asia Pacific region. Ma has extensive experience in underwriting complex commercial risks in the agriculture and marine industries that encompasses a range of product development and marketing initiatives, Ironshore said in a statement.
“Ironshore’s parent Fosun, headquartered in Shanghai, positions us with clear distinction in the local market, allowing us to offer onshore specialist products to meet growing demand within this vibrant city,” said Mark Wheeler, chief executive officer of Ironshore International.
“Tracy has a proven background in specialty lines insurance and we are fortunate to have her join Ironshore to optimize our relationships with Fosun’s network of portfolio companies throughout China,” said Wheeler.
Hui Yun Boo, managing director of Ironshore’s Asia Pacific region, added that the new Shanghai office complements Ironshore’s regional presence in Asia Pacific growth hubs, such as Singapore, Hong Kong, Tokyo, Sydney and Auckland.
Ironshore International offices are located in Canada, Europe, United Arab Emirates, and business centers throughout the Asia Pacific region. Through its Lloyd’s Pembroke Syndicate 4000, Ironshore International has the authority to offer capacity on a worldwide basis.