Iron-Starr Excess Agency Announces Underwriting Alliance With Hamilton Re
The following announcement was issued on Tuesday, July 15, 2014 by Ironshore Inc.
Hamilton, Bermuda, July 15, 2014 – Ironshore Inc. is pleased to announce the addition of Hamilton Re as a subscribing insurer to the Iron-Starr Excess Agency Ltd. (Iron-Starr). Iron-Starr currently underwrites on behalf of Ironshore Insurance Ltd. (IIL) and Starr Insurance & Reinsurance Limited (SIRL). With the addition of Hamilton Re, Iron-Starr will be able to offer increased capacity for the full suite of Iron-Starr insurance products across Casualty, Financial Lines and Healthcare.
Iron-Starr was founded on the premise of offering syndicated capacity to clients for excess liability products through a single access point. Bermuda remains a core market for purchasing such products, and the addition of Hamilton Re to Iron-Starr strengthens its capabilities and creates a larger pool of excess capacity available to current and potential clients.
“Ironshore is pleased to announce that Hamilton Re joins Iron-Starr as a premier underwriting partner,” said Kevin H. Kelley, Ironshore Chief Executive Officer. “Hamilton Re has quickly assembled a cadre of talented and well-respected insurance industry leaders and we look forward to a successful partnership as we develop innovative insurance programs for our mutual clients.”
Mitch Blaser, Iron-Starr CEO, noted, “This partnership is a positive step for both the Iron-Starr agency and for the Bermuda market overall as we further advance the concept of syndication of risk. Iron-Starr can now provide additional market capacity, through a single access point, to strongly rated and well-respected insurance carriers.”
“We are pleased to join Ironshore in this new venture, which dovetails nicely with our plans for growth and development,” said Kathleen Reardon, Hamilton Re CEO. “Iron-Starr’s established book of business, seasoned team of underwriters and first-class claims operation provide a sound business case for our access to direct business. We are looking forward to the opportunities presented by this partnership.”
Iron-Starr Excess Agency Ltd. (Iron-Starr) is a specialty lines insurance managing general underwriting agency, domiciled in Bermuda. The Iron-Starr agency was formed in 2009 along with C.V. Starr & Co., Inc.
Ironshore provides broker-sourced specialty property and casualty insurance coverages for varying risks on a global basis through its multiple international platforms. The Ironshore group of companies is rated A (Excellent) by A.M. Best with a Financial Size Category of Class XIV. Ironshore’s Pembroke Syndicate 4000 operates within Lloyd’s where the market rating is A (Excellent) by A.M. Best and A+ (Strong) from both Standard & Poor’s and Fitch. For more information, please visit: www.ironshore.com.
About Hamilton Re
Hamilton Insurance Group leverages analytics and research to create underwriting and investment value for its clients and shareholders. As of March 31, 2014, Hamilton Insurance Group had over $800 million in capital.
Hamilton Re, a Bermuda-based Class 4 property and casualty reinsurer, is rated “A-” (Excellent) with a stable outlook by A.M Best Company, Inc. Please visit: www.hamiltongroup.com for more information.
About Starr Companies
STARR COMPANIES (or STARR) is the worldwide marketing name for the operating insurance and travel assistance companies and subsidiaries of Starr International Company, Inc. and for the investment business of C. V. Starr & Co., Inc. and its subsidiaries. Starr is a leading insurance and investment organization with a presence on five continents; through its operating insurance companies, Starr provides property, casualty, and accident & health insurance products as well as a range of specialty coverages including aviation, marine, energy and excess casualty insurance.