Ironshore expands relationship with OCIL

Expanded partnership will allow Ironshore to underwrite property risks

Ironshore expands relationship with OCIL

Insurance News

By Ryan Smith

Ironshore has announced an expansion of the partnership between Iron-Starr Excess Agency and Oil Casualty Insurance Ltd. (OCIL) to underwrite property lines. Iron-Starr has underwritten financial lines coverages on behalf of OCIL since 2016. The expanded partnership will allow Iron-Starr to deliver an increase in syndicated capacity for commercial property risk, including natural catastrophe perils, within the Bermuda market, Ironshore said.

“Iron-Starr’s newest agreement with OCIL strengthens our capabilities for delivering greater capacity for commercial property lines, where we have seen growing demand in the Bermuda marketplace,” said Ian Smith, Ironshore’s senior vice president and head of Bermuda property. “We are pleased to incorporate property risk within Iron-Starr’s increasingly diverse portfolio.”

OCIL’s expanded relationship with Iron-Starr will also be aimed at building its presence in the direct and facultative property insurance space, Ironshore said. Iron-Starr is authorized to underwrite D&F insurance with limits separate and distinct from the coverage offered directly by OCIL’s property team.

“Our partnership allows us to tap into Ironshore’s underwriting expertise, technological efficiencies and production sources, thereby extending our goal to diversify the OCIL business portfolio,” said Jerry Rivers, OCIL’s chief operating officer.

 

 

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