Yesterday
Insurance Business broke the news that
Liberty Mutual had completed its acquisition of Ironshore – and now the firm has revealed its plans for the brand going forward.
In a release issued earlier today, Liberty Mutual announced that it would be combining its existing Liberty International Underwriters business with Ironshore’s US speciality lines business – with the merged firm to operate under the Ironshore brand.
According to David H Long, the chairman and CEO of Liberty Mutual Insurance, the new firm will create the sixth largest writer of excess and surplus lines in the US based on 2016 direct written premium.
“The combination of our two operations will create a top tier US specialty insurer with a broad and deep set of solutions for clients and brokers,” he said. “For Liberty’s worldwide operations, Ironshore becomes an ideal complement to our $5 billion global specialty business by providing additional scale, expertise, innovation and market relationships.”
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Current Ironshore CEO Kevin H. Kelley will continue to lead all Ironshore operations and report directly to Long. The combined US specialty organization, meanwhile, will be led by Shaun Kelly, Ironshore president and CEO Ironshore US, who will report directly to Mr. Kelley.
Elsewhere, Ironshore’s existing international businesses, which include a Lloyd’s syndicate operation (Pembroke) and Bermuda platform, will operate with its current management team, business strategy and Ironshore brand.
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