Ironshore Specialty Insurance Becomes Surplus Lines Insurer in California

October 6, 2008

The California Department of Insurance has added Ironshore Specialty Insurance Co. (ISIC) to its List of Eligible Surplus Lines Insurers (LESLI listing). ISIC will provide specialty commercial insurance coverages on an excess and surplus basis for risks located in California.

Ironshore Specialty Insurance Co. is a U.S.-based excess and surplus company with surplus lines approvals in 47 states. ISIC is the primary E&S entity for Ironshore’s US operations. The parent company, Ironshore Inc., is a specialty insurance company with approximately $1 billion of capital.

“California is a critical state for many of ISIC’s products, including our professional and management liability, healthcare liability and construction liability product offerings. We are looking forward to serving the California nonadmitted market and expect our
suite of specialty products to be very well received,” said Greg Flood, CEO of Ironshore Holdings (U.S.) Inc.

Ironshore provides broker-sourced specialty commercial property and casualty coverages for risks located throughout the world. Through its platform in Bermuda, Ironshore writes property catastrophe and property all-risk coverage for small to mid-sized commercial risks. Ironshore’s US operations consist of IronPro, IronHealth, IronBuilt and IronSelect.

Specialty coverages are underwritten at Lloyd’s through Ironshore’s Pembroke Syndicate 4000. The Ironshore group of insurance companies is rated A- (Excellent) by A.M. Best with a Financial Size Category of Class XI. Syndicate 4000 operates within Lloyd’s where the market rating is A (Excellent) by A.M. Best and A+ (Strong) from both Standard & Poor’s and Fitch. For more information, visit www.ironshore.com and www.pembrokeunderwriting.com.

Source: Ironshore

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