Ironshore calls off Assetinsure acquisition

Ironshore’s Australian subsidiary Ironshore Australia will not acquire Australia’s Assetinsure.

Ironshore said that the transaction, announced earlier this year, will not proceed by mutual agreement of the parties.

“Both parties agreed that it was not in their best interests to continue with the transaction after extensive discussions. We wish Assetinsure well in its future endeavours,” said Mark Wheeler, chief executive officer of Ironshore International.