Ironshore acquires Dubai underwriter

Ironshore International has acquired Dubai-based Lloyd’s coverholder Visionary Underwriting Agency, a company incorporated in the Dubai International Financial Centre.

Founded in 2012 by David Austin, Visionary underwrites various specialty lines of business, including political violence and terrorism, casualty, energy and construction.  Visionary’s regional portfolio consists of exposures in the Middle East, the Far East and Africa.

Austin will continue to serve as chief executive officer of Visionary Underwriting Agency.

Austin said: “Becoming part of the Ironshore group allows us to deepen business relationships, initially focused on political violence and energy specialty lines, grounded within the DIFC that has become an emerging hub for international insurance expansion.”

Mark Wheeler, chief executive officer of Ironshore International, added: “Ironshore’s acquisition of Visionary complements our existing global distribution platform and further expands our foundation for growth opportunities in selected specialty sectors within the Asian and African markets.”