Ironshore to acquire Australian insurer
Bermuda-based insurer Ironshore looks to acquire Assetinsure Holdings, an Australian specialty insurer providing surety, aviation, credit and property coverage.
The acquisition of Assetinsure Holdings, which is the parent company of Assetinsure, will allow Ironshore to grow its presence in the Australasia market.
“Assetinsure has established an insurance platform that allows Ironshore to broaden its product offerings within the region. We welcome the Assetinsure team and look forward to this strategic expansion opportunity for building our presence throughout the Australasian insurance market,” said Kevin Kelley, chief executive officer of Ironshore.
Gregor Pfitzer will continue to serve as chief executive officer of Assetinsure reporting to David Rogers who has been appointed as chief executive officer of Ironshore Australia Holdings. Katherine Simmonds has been named managing director of Ironshore Australia.
The transaction is expected to close in the second quarter of 2014.
