NU Online News Service, may 17, 2:30 p.m. EDT

Ironshore Inc. said it is entering the personal lines market to underwrite a high value homeowners program for properties valued at more than $1 million.

The program will be offered in partnership with Hull & Company Inc., a wholesale insurance intermediary.

Ironshore Property's new High Value Homeowners product will be launched in Florida with other selected states to follow in the upcoming months, the company said.

Mr. Daniel Olmsted, vice president of Ironshore, will lead the initiative, reporting to John Murphy, Head of Global Property.

Shaun Kelly, Ironshore's chief executive officer of U.S. Operations, noted that Ironshore's entry into the personal lines sector is a new direction for "leveraging what we view as opportunities in the marketplace and helping to drive our continued growth strategy."

He added, "Partnering with our colleagues at Hull & Company to introduce this program in Florida marks our initial foray into the high-value homeowners market."

Prior to joining Ironshore, Mr. Olmsted served as president of private risk services at ACE, and also was president of personal lines for Atlantic Mutual.

Mike Riordan, president of Hull & Company, said, "Hull & Company prides itself on working with the best companies in the insurance industry."

He added, "We believe this new relationship with Ironshore will offer a premier high-value program, enabling our retail agency customers to meet their clients' specialty homeowner insurance needs."

Ironshore provides broker-sourced specialty commercial property and casualty coverages for risks located throughout the world. Through its platform in Bermuda, including Iron-Starr Excess, Ironshore writes property and excess casualty insurance for global commercial risks.

The Ironshore group of insurance companies is rated "A-minus" (Excellent) by A.M. Best with a Financial Size Category of Class XI. Syndicate 4000 operates within Lloyd's where the market rating is "A" (Excellent) by A.M. Best and "A-plus" (Strong) from both Standard & Poor's and Fitch. For more information, visit www.ironshore.com.

Hull & Company Inc. is a wholesale insurance intermediary providing specialty products and unique solutions to the independent agency system. Headquartered in Florida, Hull & Company has more than 600 employees in 30 locations spanning 18 states nationwide. Hull & Company is a subsidiary of Brown & Brown Inc. For information, visit www.hullco.com.

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Ironshore Enters Personal Lines Market

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