Bermuda-based Ironshore Inc. announced that Ironshore Holdings (U.S.) Inc., the company’s US subsidiary, has completed the acquisition of Stockbridge Insurance Company, a US-based admitted insurance company, from Folksamerica Reinsurance Company.
The bulletin noted that “subject to regulatory name change approval, the company will be renamed Ironshore Indemnity Inc. (III). It is currently licensed in 46 states plus the District of Columbia, and it “will be the admitted US carrier for Ironshore’s US operations, which currently consist of the IronPro and IronBuilt divisions.”
Greg Flood, President of both III and IronPro,noted the Group’s pleasure it having been able to acquire “a clean, admitted shell with licenses in so many states.” He added that the acquisition would give Ironshore “an excellent platform to expand our US admitted operations.”
Source : Ironshore – www.ironshore.com
Topics Mergers & Acquisitions USA
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