Specialty insurer Ironshore has announced that its managing general agent Iron-Starr Excess Agency has formed an underwriting alliance with energy industry re/insurer Oil Casualty Insurance Limited (OCIL).
The company said OCIL has been added as a subscribing insurer to Iron-Starr Excess Agency for financial lines business.
“Ironshore is pleased to announce that OCIL has joined Iron-Starr. We continue to see a wealth of opportunity in these lines of business and, most importantly, a growing need for large blocks of capacity,” said Ironshore CEO Kevin Kelley.
With the addition of OCIL, Iron-Starr will be able to offer increased capacity for directors and officers liability, cyber liability and transactional liability for financial lines clients.
“This partnership further enhances our ability to deliver greater capacity in products where we see growing demand as a key benefit of our structure,” said Iron-Starr CEO Mitch Blaser.
“Offering this capacity through a single access point, with concurrency of terms and access to several balance sheets, is a key differentiator and an attractive proposition to our clients,” he added.
OCIL chief operating officer Jerry Rivers said his company is expanding its relationship with Ironshore while diversifying its risk profile and expanding into other industry segments.
“It is important that our growth is accretive to our bottom line, which requires partnering with individuals and firms that have the expertise and production platforms that OCIL can rely upon,” he said.
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