14 February 2017Insurance

Ironshore unveils new energy facility in the US

Bermuda-based Ironshore Specialty Casualty has launched a new oil and gas facility offering liability coverages for on-shore middle market energy classes in the US, with annual revenues between $5 million and $200 million.

Ironshore Energy Solutions will provide up to $11 million in insurance capacity for general liability and umbrella coverages for complex sector risks. Ironshore MGA will underwrite the middle market sector risk on behalf of consortium insurers.

"Ironshore's newly-established facility will provide much-needed insurance capacity to an underserved sector of the energy industry at a time when many operations are beginning to rebound from intense commodity pricing pressures," said Ron Gleason, leader of global energy industry practice. "Ironshore Energy Solutions is an innovative approach that brings alternative capital to the US middle market."

Ben Johnson, vice president, said: "Ironshore's new energy facility promises broader coverage options and deeper capacity, allowing specialty brokers and agents within these markets access to a more robust suite of products."

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