Ironshore News

Ironshore’s Pembroke Managing Agency Forms Specie Consortium at Lloyd’s

Ironshore’s Pembroke Managing Agency Ltd. announced the formation of the Specie Consortium, a new venture supported by 21 Lloyd’s Syndicates offering up to US$635 million in capacity for any one risk worldwide. The Specie Consortium is led by three syndicates: …

Ironshore Launches Coverage for Construction Project Owners

Ironshore Specialty Casualty has introduced Owners Protective Professional Indemnity (OPPI) coverage for specific construction projects. Ironshore’s OPPI product indemnifies the project owner for first party loss resulting from contracted design professionals and builders negligence when damages exceed the existing professional …

Fosun Plans to Sell as Much as $6 Billion in Assets to Raise Credit Rating

Fosun Group, one of China’s most acquisitive conglomerates, is preparing to sell as much as 40 billion yuan ($6 billion) in assets as it focuses on raising its credit rating to above junk. After announcing more than $15 billion in …

Ironshore Files for IPO in U.S. After A.M. Best Review of Parent Firm Fosun

Ironshore Inc., the insurer purchased by Chinese conglomerate Fosun International Ltd. last year, filed for an initial public offering in the U.S. after a ratings firm cited concerns about the parent firm’s financial strength. The company filed with an initial …

A.M. Best Removes Ironshore from ‘Under Review’ Status

A.M. Best has changed its mind about Ironshore, removing the Bermuda-based specialty insurer from its status as “under review with negative implications.” A year after initially taking action, the ratings agency has affirmed the financial strength ratings of “A” (Excellent) …

Ironshore’s Pembroke Agency Partners with Old Mutual for Africa Risks

Ironshore’s Pembroke Managing Agency Ltd. has entered into a management agreement with Old Mutual Group to underwrite select specialty lines for African risks. Pembroke’s Lloyd’s Syndicate 4000 partners with Old Mutual Specialty Insurance, to offer coverage for multiple property, casualty …

Iron-Starr Forms Underwriting Alliance with Oil Casualty Insurance

Ironshore Inc. has added Oil Casualty Insurance, Ltd. (OCIL) as a subscribing insurer to Iron-Starr Excess Agency Ltd. for Financial Lines business. Iron-Starr currently underwrites on behalf of Ironshore Insurance Ltd. (IIL), Starr Insurance & Reinsurance Ltd., Hamilton Re Ltd. …

U.S. Treasury Unit Reviews Fosun’s Acquisition of Ironshore

U.S. authorities are conducting a review of China’s Fosun Group’s acquisition in November 2015 of Bermuda-based insurer Ironshore. The Committee on Foreign Investment in the United States (CFIUS), part of the U.S. Department of the Treasury, regularly conducts company reviews …

Ironshore Introduces Political Risk Coverage For Film Producers

Ironshore International is introducing a specialty insurance product designed to address the risk exposure of film production companies shooting in at-risk locations worldwide. Ironshore’s Political Risk program is underwritten to protect film producers against loss and/or damage of equipment and …

Ironshore Appoints Nariño to Head Latin American Surety Lines Out of Miami

Ironshore Inc. announces that Adriana Nariño has joined as head of Surety for the Latin American Group, expanding capabilities for this specialty sector within the region. Narińo has more than 20 years’ experience in underwriting surety coverages for global insurance …