Backed by $1 billion in capital and a broker sponsor, a new Bermuda-based insurer has been formed to write U.S. property-catastrophe risk.
Known as Ironshore Insurance Ltd. Inc., the venture said it raised more than $1 billion through a private placement of its equity securities and it will begin underwriting specialty lines of insurance immediately through its subsidiary, Ironshore Insurance Ltd.
The global specialty insurer was created in response to the crisis conditions in the U.S. property-catastrophe insurance markets.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
