Move follows purchase of Pembroke Managing Agency and Syndicate 4000
Ironshore has entered the Lloyd’s market following the purchase of Pembroke Managing Agency, which manages Lloyd’s Syndicate 4000.
The transaction with Chaucer Holdings has been completed following its announcement on July 1.
Mark Wheeler serves as active underwriter for the Syndicate. Pembroke Managing Agency is led by Mark Butterworth, managing director, and Mark Wheeler, underwriting director.
Ironshore will take over the 2009 underwriting year of account onwards and Chaucer will retain the 2008 and prior underwriting years of account.
Ironshore chief executive, Bob Deutsch, said: “Ironshore is very excited to enter the Lloyd’s market. The Pembroke acquisition completes our strategic goal of having underwriting operations in Bermuda, the US and Lloyd’s.”