Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, is integrating its Ironshore Bermuda businesses and brands into one brand called Liberty Specialty Markets Bermuda.
The new business will be led by Steve Horton, currently chief executive of Iron-Starr Excess Agency. He becomes president of Liberty Specialty Markets Bermuda subject to approval by the Bermuda Department of Immigration. Horton will report to Mark Wheeler, president, international markets.
The business will utilise the managing general agency structure, previously Iron-Starr Excess Agency Ltd, across its product lines, enabling each business to provide Liberty capacity as well as access to third party capacity.
Horton joined the Ironshore group in 2008 through Ironshore’s Lloyd’s platform, Pembroke Managing Agency Limited. He worked as a primary financial institutions underwriter before transferring to Iron-Starr in 2010. At Iron-Starr, Horton was initially charged with growing international business before being promoted to financial lines manager and subsequently chief executive officer.
Wheeler said combining these businesses provides a unified regional approach to Bermuda and gives its Bermuda-based clients access to new products currently offered from other parts of Liberty, including specialty reinsurance from Liberty Mutual Re.
Ironshore in Bermuda historically comprised two businesses: Ironshore Bermuda, which opened in 2007, writing, property, energy and specialty re/insurance, and Iron-Starr Excess Agency, which began in 2009 and writing excess casualty, financial lines and healthcare within Iron-Starr Excess Agency.
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