Ironshore Indemnity Inc. offers broker-sourced specialty property and casualty insurance coverages for diverse risk profiles on a global scale through its platforms in Australia, Bermuda, Canada, Ireland, Singapore, the United States, and the United Kingdom.
On December 5, 2016, an announcement was made regarding the sale of Ironshore to Liberty Mutual in a $3 billion transaction.
Ironshore Indemnity Inc. History
The company, founded in 2006 with over $1 billion in equity, had its inception through the efforts of Robert Clements and his son John Clements, both seasoned insurance investors.
In December 2008, Ironshore appointed Kevin Kelley as its CEO, a notable figure who had previously served as the CEO of Lexington Insurance.
Under his leadership, Lexington Insurance had grown to become the largest excess and surplus lines insurer in the world.
Concurrently, Shaun Kelly stepped down from his role as president and Chief Operating Officer of Lexington and assumed the position of chief executive officer for U.S. Operations at Ironshore.
Furthermore, in 2015, Ironshore expanded its presence by acquiring Visionary Underwriting Agency Ltd, a Dubai-based Managing General Agent (MGA) and Lloyd’s Cove holders.
Visionary Underwriting Agency Ltd was originally established in 2010 by David Austin.
Inshore Indemnity Inc. Operations
The company offers a diverse range of product lines, including Aviation, Environmental, Iron Built, Iron Health, IronPort, Marine Re, Personal Lines, Political Risk, Ironshore Programs, and U.S. Property and Specialty Casualty.
The Ironshore group of companies maintains an A (Excellent) rating by A.M. Best, with a Financial Size Category of XIV. Ironshore’s Pembroke Syndicate 4000 operates within Lloyd’s and holds a market rating of A (Excellent) from A.M. Best, along with A+ ratings from both Standard & Poor’s and Fitch Group.
Notably, in 2012, A.M. Best revised the rating outlook for Ironshore and its subsidiaries to “Positive.”
On June 29, 2020, Ironshore Pharmaceuticals Inc., a wholly owned affiliate of Highland Therapeutics Inc., confirmed the publication of an original paper in the Field of Clinical Psychopharmacology.
The paper outlines a concept aimed at optimizing the dosage of JORNAY PM® (methylphenidate HCl) extended-release capsules CII.
It’s important to note that in August 2018, the US Food and Drug Administration (FDA) granted approval for JORNAY PM to treat ADHD in children aged 6 years and older.
Inshore Indemnity Inc. Company Details
| Company Name | IRONSHORE INDEMNITY INC. |
|---|---|
| Address | 175 BERKELEY STREET, BOSTON, MA 02116 |
| Old Company Names | Effective Date |
| MUTUAL SERVICE CASUALTY INSURANCE COMPANY | 04/23/2008 |
| Agent For Service | |
| Melissa DeKoven | |
| 2710 Gateway Oaks Drive, Suite 150N | |
| Sacramento, CA 95833-3505 | |
| Reference Information | |
| NAIC #: | 23647 |
| California Company ID #: | 1539-6 |
| Date Authorized in California: | 01/14/1958 |
| License Status: | UNLIMITED-NORMAL |
| Company Type: | Property & Casualty |
| State of Domicile: | ILLINOIS |
Frequently Asked Questions
Who owns Ironshore Insurance Company?
Is Ironshore an admitted carrier?
Who is the CEO of Ironshore insurance?
Conclusion
In this comprehensive guide, we’ve discussed this company’s history, operations, Details and frequently asked Questions. With a rich history and a commitment to customer satisfaction ,Ironshore Indemnity Inc. is a reliable choice for securing your future.
So, if you’re considering insurance, don’t forget to discuss this Insurance Company as a top option. Your peace of mind and financial security are their top priorities.
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Anne Mitchell: Reporting Expert in Business Commerce Insurance
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