Iron-Starr Excess Agency Ltd. (Iron-Starr), an excess specialty insurance lines managing general underwriting agency operated by Ironshore, has expanded its relationship with Oil Casualty Insurance Ltd. (OCIL) to underwrite property lines.
Iron-Starr has underwritten coverages on behalf of OCIL, a subscribing insurer for financial lines since 2016. The broadened relationship with OCIL will enable Iron-Starr to deliver an increase in syndicated capacity for commercial property risks, including natural catastrophe perils, within the Bermuda market.
Ian Smith, Ironshore senior vice president and head of Bermuda Property, said, the new agreement with OCIL strengthens its capabilities for delivering greater capacity for commercial property lines, where it has seen growing demand in the Bermuda marketplace.
OCIL’s expanded relationship with Iron-Starr will focus on further building its presence in the direct & facultative property insurance sector. Iron-Starr is authorized to underwrite D&F insurance with limits separate and distinct from coverage offered directly by OCIL’s property team, led by Rolf Fischer.
Iron-Starr Excess Agency Ltd is domiciled on Bermuda
Ironshore, a Liberty Mutual Company, provides broker-sourced specialty property and casualty insurance coverages for varying risks located throughout the world. Select specialty coverages are underwritten at Lloyd’s through Ironshore’s Pembroke Syndicate 4000. Pembroke Syndicate 4000 operates within Lloyd’s.
Oil Casualty Insurance, Ltd. is an insurance and reinsurance company incorporated under the laws of Bermuda in 1986.