Ironshore Inc. provides

broker A broker is a person or entity that arranges transactions between a buyer and a seller. This may be done for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neither ...

-sourced specialty

property Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, re ...

and

casualty Casualty may refer to: *Casualty (person), a person who is killed or rendered unfit for service in a war or natural disaster **Civilian casualty, a non-combatant killed or injured in warfare * The emergency department of a hospital, also known as ...

insurance coverages for varying risks on a global basis through its platforms in

Australia Australia, officially the Commonwealth of Australia, is a country comprising mainland Australia, the mainland of the Australia (continent), Australian continent, the island of Tasmania and list of islands of Australia, numerous smaller isl ...

Bermuda Bermuda is a British Overseas Territories, British Overseas Territory in the Atlantic Ocean, North Atlantic Ocean. The closest land outside the territory is in the American state of North Carolina, about to the west-northwest. Bermuda is an ...

Canada Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's List of coun ...

Ireland Ireland (, ; ; Ulster Scots dialect, Ulster-Scots: ) is an island in the North Atlantic Ocean, in Northwestern Europe. Geopolitically, the island is divided between the Republic of Ireland (officially Names of the Irish state, named Irelan ...

Singapore Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...

, the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

and the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...

. On December 5, 2016, it was announced that Ironshore will be sold to

Liberty Mutual Liberty Mutual Insurance Company is an American diversified global insurer and the sixth-largest Property insurance, property and Casualty insurance, casualty insurer in the world. It ranks 87th on the Fortune 100, ''Fortune'' 100 list of larges ...

in a $3 billion transaction.

History

The company was founded in 2006, with more than $1 billion in equity, by Robert Clements and his son John Clements, two long-time insurance investors. Ironshore named Kevin Kelley as

CEO A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

in December 2008. Kelley had been the longtime CEO of Lexington Insurance, which became the largest excess and surplus lines insurer in the world under his leadership. Shaun Kelly resigned as president and

chief operating officer A chief operating officer (COO), also called chief operations officer, is an executive in charge of the daily operations of an organization (i.e. personnel, resources, and logistics). COOs are usually second-in-command immediately after the C ...

of Lexington and was appointed chief executive officer of U.S. Operations for Ironshore. During 2015, Ironshore acquired Dubai-based MGA, Visionary underwriting Agency Ltd, a Lloyd's Coverholders founded in 2010 by David Austin.

Operations

The company's product lines include

Aviation Aviation includes the activities surrounding mechanical flight and the aircraft industry. ''Aircraft'' include fixed-wing and rotary-wing types, morphable wings, wing-less lifting bodies, as well as lighter-than-air aircraft such as h ...

, Environmental, IronBuilt, IronHealth, IronPro, Marine Re, Personal Lines,

Political Risk Political risk is a type of risk faced by investors, corporations, and governments that political decisions, events, or conditions will significantly affect the profitability of a business actor or the expected value of a given economic action. Po ...

, Ironshore Programs, and U.S. Property and Specialty Casualty. The Ironshore group of companies is rated A (Excellent) by A.M. Best with a Financial Size Category of XIV. Ironshore’s Pembroke Syndicate 4000 operates within Lloyd’s with a market rating of A (Excellent) from A.M. Best and A+ from both Standard and Poor’s and

Fitch Group Fitch Ratings Inc. is an American credit rating agency. It is one of the three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission and is considered as being one of the " Big ...

. A.M. Best announced in 2012 a revised rating outlook to "Positive" for Ironshore and its subsidiaries.

References

External links

* {{Official website, http://www.ironshore.com Financial services companies established in 2006 2016 mergers and acquisitions Liberty Mutual