Ironshore Inc’s. Specialty Casualty unit has named Merle E. Shapiro to the position of Product Line Manager for Public Entity Lines. She will be responsible for expanding Ironshore’s Public Entity practice and building upon its platform of serving municipal and state governmental units, special public facilities, school districts and higher educational institutions. Ms. Shapiro is based in Ironshore’s San Francisco office, reporting to Kevin Whitehead, Chief Underwriting Officer of the Specialty Casualty unit.
Ironshore Inc. has named Ronald A. Gleason to assume the position of Global Energy Industry Practice Leader, effective immediately. Mr. Gleason, Senior Vice President, currently serves as Ironshore Regional Executive for South Central, based in Houston, and will continue in that role. He will be responsible for developing integrated insurance solutions for the Energy sector in alignment with Ironshore underwriting specialists throughout its global platform.
Ironshore established the vertical Industry Practice Leadership structure more than three years ago to address distinct sector-specific risks. The industry practice leaders leverage Ironshore’s network of dedicated specialty production specialists to provide insureds and brokers with optimal coverage solutions.
“Ironshore Energy lines realized a growth rate of nearly 10 percent last year, signaling an opportunity to further broaden specialty sector coverage offerings across our various lines of business worldwide,” stated Kevin Kelley, Chief Executive Officer of Ironshore. “Ron will assume leadership in building upon the industry practice group strategy to foster continued progress through innovative product development and productive client relationships.”
Mr. Gleason has more than 30 years’ experience as a specialty underwriter in the energy sector. He joined Ironshore in 2009 to establish the Houston office. Previously, as of 2000, he led the regional energy operation of AIG Global Energy after having served for more than five years as Profit Center Manager for the AIG Energy division.
Ironshore’s Energy Industry Practice underwrites comprehensive coverages on commercial risks across virtually all classes within the specialty Energy sector worldwide, including Casualty,
Environmental, Global Property, International Liability and Professional Liability lines, among others. In addition to Energy, Ironshore global industry practice groups are Construction, China Client Services, Financial Institutions, Healthcare, Personal Lines and Real Estate sector risks.
Ironshore 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. The Ironshore group of companies is rated A u (Excellent) by A.M Best with a Financial Size Category of Class XIV. Pembroke Syndicate 4000 operates within Lloyd’s where the market rating is A (Excellent) by A.M. Best, AA- (Very Strong) by Fitch, and A+ (Strong) by Standard & Poor’s. For more information, please visit: www.ironshore.com
Ironshore Inc. has announced the opening of a branch office in Seattle, to be led by Daniel Sonon as Branch Executive. Mr. Sonon will be responsible for marketing across all Ironshore business lines, reporting to Jeremy Frumkin, Branch Executive based in San Francisco.
Ironshore Global Property will expand its Builders’ Risk coverage to include wood frame commercial construction projects in the U.S. and Canada. The stand-alone policy offering will protect against property risks of large scale, commercial wood frame structures during the course of construction. Capacity limits are available up to $15 million to be underwritten on a quota share basis for both Wholesale and Retail producers for selected wood frame construction projects.
Ironshore International announces that its subsidiary, Pembroke Managing Agency, will establish an office in Shanghai in January 2016 as part of the Lloyd’s China platform. In Shanghai, Pembroke Managing Agency will underwrite specialty lines of business, initially focusing on the Agriculture, Marine and Healthcare sectors. Ms. Tracy Ma has been appointed Underwriting Manager of the entity, reporting to Hui Yun Boo, Managing Director of Ironshore’s Asia/Pacific region.
Ironshore may be in the process of being taken over by a Chinese firm — but its roots will remain firmly entrenched in Bermuda.
Maintaining what Ironshore chief executive officer Kevin Kelley calls “the Bermuda advantage” was a key element of the $1.84 billion acquisition of the insurer by Shanghai-based Fosun International Ltd
With management given a mandate to continue what they’ve been doing — building out a global specialty i
nsurance platform — with an owner in it for the long term, Mr Kelley believes Ironshore is more strongly positioned than ever for growth.
Ironshore’s new owner, Chinese conglomerate Fosun International, is keen on expanding its substantial global insurance holdings, which is music to the ears of Ironshore Australia MD Katherine Simmonds, who says the acquisition will enable Ironshore Australia to pursue organic growth and expansion through acquisition.
Ironshore distinguishes itself in the industry by closely aligning our claim professionals with members of the underwriting, actuarial and finance teams. This is our way of ensuring that the people who make the promises, keep the promises and that our policyholder claims are handled in a professional and expeditious manner.
The Foreign Account Tax Compliance Act (FATCA) is a United States federal law that requires United States persons, including individuals who live outside the United States, to report their financial accounts held outside of the United States, and requires foreign financial institutions to report to the Internal Revenue Service (IRS) about their U.S. clients. As Ironshore has many U.S. and internationally domiciled companies we have endeavored to comply with the FATCA regulations. All FATCA documentation is available within the following pages upon registration.