Ironshore

Ironshore Inc. provides broker-sourced specialty property and casualty insurance coverages[1] for varying risks on a global basis through its platforms in Australia, Bermuda, Canada, Ireland, Singapore, the United States and the United Kingdom.[2][3][4][5] On December 5, 2016, it was announced that Ironshore will be sold to Liberty Mutual in a $3 billion transaction.[6]

Ironshore
TypeIncorporated
IndustryInsurance
Founded2006
FounderRobert Clements, John Clements
Key people
Kevin Kelley

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.[7][8][9]

Ironshore named Kevin Kelley as CEO in December 2008.[10][11][12][13] Kelley had been the longtime CEO of Lexington Insurance, which became the largest excess and surplus lines insurer in the world under his leadership.[14] Shaun Kelly resigned as president and Chief Operating Officer of Lexington and was appointed chief executive officer of U.S. Operations for Ironshore.[15] 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, Environmental,[16][17] IronBuilt, IronHealth,[18] IronPro, Marine Re, Personal Lines,[19] Political Risk,[20] Ironshore Programs,[21] and U.S. Property and Specialty Casualty.[22]

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.[23][24]

On 29 June 2020, Ironshore Pharmaceuticals Inc. ('Ironshore'), a wholly owned affiliate of Highland Therapeutics Inc., confirmed the publication in the Field of Clinical Psychopharmacology of an original paper outlining a concept that could promote the dose optimisation of JORNAY PM® (methylphenidate HCl) extended-release capsules CII. In August 2018, the US Food and Drug Administration (FDA) licensed JORNAY PM to treat ADHD in children 6 years of age and older.[25]

References
  1. "Ironshore, Inc.: Private Company Information - Businessweek". Investing.businessweek.com. Archived from the original on March 2, 2009. Retrieved 2013-06-17.
  2. Vizer, Alex (2010-07-31). "New Brand, New Legacy | Canadian Insurance". Citopbroker.com. Retrieved 2013-06-17.
  3. Breen, Marcia (2012-07-16). "Ironshore makes European appointments | Bermuda Re-Insurance". Royalgazette.com. Retrieved 2013-06-17.
  4. "Advisen FPN". Fpn.advisen.com. 1980-01-01. Retrieved 2013-06-17.
  5. Greenwald, Judy (January 20, 2012). "Ironshore sets up Bermuda center for new property energy coverages". Business Insurance. Retrieved July 1, 2013.
  6. "Liberty Mutual to Buy Fosun's Ironshore for About $3 Billion". Bloomberg.com. Retrieved 2016-12-05.
  7. "Ironshore Goes Big | Risk & Insurance". Riskandinsurance.com. 2009-01-09. Archived from the original on 2013-07-01. Retrieved 2013-06-17.
  8. HighBeam
  9. "Insurance Veteran Robert Clements Dies - WSJ.com". Online.wsj.com. 2010-09-07. Retrieved 2013-06-17.
  10. "Former Lexington Insurance CEO Kelley Named CEO at Ironshore". Insurancejournal.com. 2008-12-09. Retrieved 2013-06-17.
  11. "Leadership In an Age of Uncertainty". Insurance Journal TV. 2010-10-04. Retrieved 2013-06-17.
  12. "Ironman Kevin Kelley: Strength Through Multiple Platforms". Insurancejournal.com. 2009-10-05. Retrieved 2013-06-17.
  13. "INTERVIEW: Kevin Kelley – Ironshore Man | Reactions - Global Insurance". Reactionsnet.com. 2010-05-25. Retrieved 2013-06-17.
  14. "Kelley's mettle | IQ". Insiderquarterly.com. Retrieved 2013-06-17.
  15. "AIG's Lexington Loses Another Top Executive as Kelly Joins Ironshore". Insurancejournal.com. 2008-12-10. Retrieved 2013-06-17.
  16. "Ironshore launches environmental product | Reactions - Global Insurance". Reactionsnet.com. 2012-01-11. Retrieved 2013-06-17.
  17. "Ironshore launches new environmental products for Europe". Insurance Insight. Retrieved 2013-06-17.
  18. "Insurer Ironshore Launches Division In Simsbury - Hartford Courant". Articles.courant.com. 2008-03-25. Retrieved 2013-06-17.
  19. "Ironshore Launches Commercial Crime Coverage Through Pembroke Syndicate". Insurancejournal.com. 2012-07-26. Retrieved 2013-06-17.
  20. "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". Mynewmarkets.com. 2012-07-19. Retrieved 2013-06-17.
  21. "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". Mynewmarkets.com. 2011-05-11. Retrieved 2013-06-17.
  22. Tsikoudakis, Mike (March 26, 2012). "Ironshore expands SPILL coverage to oil, gas industries". Business Insurance. Retrieved July 1, 2013.
  23. "A.M. Best Revises Outlook to Positive for Ironshore Inc. and Its Operating Subsidiaries". .ambest.com. Retrieved 2013-06-17.
  24. "A.M. Best Revises Outlook to Positive for Ironshore Inc. and Its Operating Subsidiaries". Reuters. 2012-06-11. Archived from the original on 2013-07-01. Retrieved 2013-06-17.
  25. "Ironshore Announces Publication of New Data for JORNAY PM® in the Journal of Clinical Psychopharmacology". businesswire. 29 June 2020. Retrieved 16 July 2020.


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