Ironshore
{{Short description|Insurance company}}
{{Infobox company
| name =Ironshore
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| type = Incorporated
| industry = Insurance
| founded = 2006
| founder = Robert Clements, John Clements
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| key_people =Kevin Kelley
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Ironshore Inc. provides broker-sourced specialty property and casualty insurance coverages{{cite web|url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=30942073 |archive-url=https://web.archive.org/web/20090302094143/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=30942073 |url-status=dead |archive-date=March 2, 2009 |title=Ironshore, Inc.: Private Company Information - Businessweek |publisher=Investing.businessweek.com |date= |accessdate=2013-06-17}} for varying risks on a global basis through its platforms in Australia, Bermuda, Canada, Ireland, Singapore, the United States and the United Kingdom.{{cite web |first=Alex |last=Vizer |url=http://www.citopbroker.com/magazine-archives/new-brand-new-legacy-1240 |archive-url=https://web.archive.org/web/20120128210037/http://www.citopbroker.com/magazine-archives/new-brand-new-legacy-1240 |url-status=dead |archive-date=January 28, 2012 |title=New Brand, New Legacy | Canadian Insurance |publisher=Citopbroker.com |date=2010-07-31 |accessdate=2013-06-17 }}{{cite web|first=Marcia |last=Breen |url=http://www.royalgazette.com/article/20120716/BUSINESS04/707169977 |title=Ironshore makes European appointments | Bermuda Re-Insurance |publisher=Royalgazette.com |date=2012-07-16 |accessdate=2013-06-17}}{{cite web|url=http://fpn.advisen.com/?resource_id=1740789531381023834#top |title=Advisen FPN |publisher=Fpn.advisen.com |date=1980-01-01 |accessdate=2013-06-17}}{{cite web |url=http://www.businessinsurance.com/article/20120120/NEWS07/120129993# |title=Ironshore sets up Bermuda center for new property energy coverages |publisher=Business Insurance |date=January 20, 2012 |accessdate=July 1, 2013 |first=Judy |last=Greenwald}} On December 5, 2016, it was announced that Ironshore will be sold to Liberty Mutual in a $3 billion transaction.{{Cite news|url=https://www.bloomberg.com/news/articles/2016-12-05/liberty-mutual-to-buy-ironshore-from-fosun-for-about-3-billion|title=Liberty Mutual to Buy Fosun's Ironshore for About $3 Billion|newspaper=Bloomberg.com|access-date=2016-12-05}}
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.{{cite web |url=http://www.riskandinsurance.com/story.jsp?storyId=163190615 |title=Ironshore Goes Big | Risk & Insurance |publisher=Riskandinsurance.com |date=2009-01-09 |accessdate=2013-06-17 |archive-url=https://archive.today/20130701204716/http://www.riskandinsurance.com/story.jsp?storyId=163190615 |archive-date=2013-07-01 |url-status=dead }}[http://www.highbeam.com/doc/1G1-157208395.html HighBeam]{{dead link|date=February 2019|bot=medic}}{{cbignore|bot=medic}}{{cite web|url=https://www.wsj.com/articles/SB10001424052748704392104575475940266498182 |title=Insurance Veteran Robert Clements Dies - WSJ.com |publisher=Online.wsj.com |date=2010-09-07 |accessdate=2013-06-17}}
Ironshore named Kevin Kelley as CEO in December 2008.{{cite web|url=http://www.insurancejournal.com/news/national/2008/12/09/96157.htm |title=Former Lexington Insurance CEO Kelley Named CEO at Ironshore |publisher=Insurancejournal.com |date=2008-12-09 |accessdate=2013-06-17}}{{cite web|url=http://www.insurancejournal.tv/videos/4413/ |title=Leadership In an Age of Uncertainty |publisher=Insurance Journal TV |date=2010-10-04 |accessdate=2013-06-17}}{{cite web|author= |url=http://www.insurancejournal.com/magazines/features/2009/10/05/158833.htm |title=Ironman Kevin Kelley: Strength Through Multiple Platforms |publisher=Insurancejournal.com |date=2009-10-05 |accessdate=2013-06-17}}{{cite web|url=http://www.reactionsnet.com/Article/2578137/INTERVIEW-Kevin-KelleyIronshore-Man.html |archive-url=https://archive.today/20130701204556/http://www.reactionsnet.com/Article/2578137/INTERVIEW-Kevin-KelleyIronshore-Man.html |url-status=usurped |archive-date=July 1, 2013 |title=INTERVIEW: Kevin Kelley – Ironshore Man | Reactions - Global Insurance |publisher=Reactionsnet.com |date=2010-05-25 |accessdate=2013-06-17}} Kelley had been the longtime CEO of Lexington Insurance, which became the largest excess and surplus lines insurer in the world under his leadership.{{cite web |url=http://www.insiderquarterly.com/kelley-s-mettle |archive-url=https://archive.today/20130701204714/http://www.insiderquarterly.com/kelley-s-mettle |url-status=usurped |archive-date=July 1, 2013 |title=Kelley's mettle | IQ |publisher=Insiderquarterly.com |date= |accessdate=2013-06-17 }} Shaun Kelly resigned as president and chief operating officer of Lexington and was appointed chief executive officer of U.S. Operations for Ironshore.{{cite web|url=http://www.insurancejournal.com/news/national/2008/12/10/96186.htm |title=AIG's Lexington Loses Another Top Executive as Kelly Joins Ironshore |publisher=Insurancejournal.com |date=2008-12-10 |accessdate=2013-06-17}} During 2015, Ironshore acquired Dubai-based MGA, Visionary underwriting Agency Ltd, a Lloyd's Coverholders founded in 2010 by David Austin.{{Citation needed|date=March 2020}}
Operations
The company's product lines include Aviation, Environmental,{{cite web|url=http://www.reactionsnet.com/Article/2959422/Ironshore-launches-environmental-product.html |archive-url=https://web.archive.org/web/20160304062951/http://www.reactionsnet.com/Article/2959422/Ironshore-launches-environmental-product.html |url-status=usurped |archive-date=March 4, 2016 |title=Ironshore launches environmental product | Reactions - Global Insurance |publisher=Reactionsnet.com |date=2012-01-11 |accessdate=2013-06-17}}{{cite web|url=http://www.insuranceinsight.com/insurance-insight/news/2136122/ironshore-launches-environmental-products-europe |title=Ironshore launches new environmental products for Europe |publisher=Insurance Insight |date= |accessdate=2013-06-17}} IronBuilt, IronHealth,{{cite web|url=https://www.courant.com/2008/03/25/insurer-ironshore-launches-division-in-simsbury/ |title=Insurer Ironshore Launches Division In Simsbury - Hartford Courant |publisher=Articles.courant.com |date=2008-03-25 |access-date=2013-06-17}} IronPro, Marine Re, Personal Lines,{{cite web|author= |url=http://www.insurancejournal.com/news/national/2012/07/26/257208.htm |title=Ironshore Launches Commercial Crime Coverage Through Pembroke Syndicate |publisher=Insurancejournal.com |date=2012-07-26 |accessdate=2013-06-17}} Political Risk,{{cite web|author= |url=http://www.mynewmarkets.com/articles/181044/worldwide-uncertainty-highlights-value-of-political-risk-trade-credit-insurance |title=Worldwide Uncertainty Highlights Value of Political Risk, Trade Credit Insurance | MyNewMarkets.com Articles about Property Casualty Insurance CoveragesMyNewMarkets.com Articles about Property Casualty Insurance Coverages |publisher=Mynewmarkets.com |date=2012-07-19 |accessdate=2013-06-17}} Ironshore Programs,{{cite web|author= |url=http://www.mynewmarkets.com/articles/180924/awareness-of-cyber-liabilities-increasing-but-agent-education-is-key-to-selling-policies |title=Awareness of Cyber Liabilities Increasing but Agent Education is Key to Selling Policies | MyNewMarkets.com Articles about Property Casualty Insurance CoveragesMyNewMarkets.com Articles about Property Casualty Insurance Coverages |publisher=Mynewmarkets.com |date=2011-05-11 |accessdate=2013-06-17}} and U.S. Property and Specialty Casualty.{{cite web |url=http://www.businessinsurance.com/article/20120326/NEWS07/120329900 |title=Ironshore expands SPILL coverage to oil, gas industries |publisher=Business Insurance |date=March 26, 2012 |accessdate=July 1, 2013 |first=Mike |last=Tsikoudakis}}
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. A.M. Best announced in 2012 a revised rating outlook to "Positive" for Ironshore and its subsidiaries.{{cite web|url=http://www3.ambest.com/frames/frameserver.asp?site=press&tab=1&altsrc=14&altnum=&refnum=65494656775346536657 |title=A.M. Best Revises Outlook to Positive for Ironshore Inc. and Its Operating Subsidiaries |publisher=.ambest.com |date= |accessdate=2013-06-17}}{{cite web|url=https://www.reuters.com/article/2012/06/11/idUS162426+11-Jun-2012+BW20120611 |archive-url=https://archive.today/20130701204727/http://www.reuters.com/article/2012/06/11/idUS162426+11-Jun-2012+BW20120611 |url-status=dead |archive-date=2013-07-01 |title=A.M. Best Revises Outlook to Positive for Ironshore Inc. and Its Operating Subsidiaries |publisher=Reuters |date=2012-06-11 |accessdate=2013-06-17}}
References
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External links
- {{Official website|http://www.ironshore.com}}
Category:Financial services companies established in 2006