Bermuda-based Ironshore has increased the capacity limits within its global property energy division to $35 million from $25 million.
This capacity increase will be available for all classes of business within the specialty property energy sector, including alternative energy, chemicals, cogeneration, onshore drilling rigs, gas plants, and electric utilities, among others.
Ironshore said it will look to leverage this additional capacity to expand its underwriting of energy risks throughout its global property platform.
“Ironshore’s increase in capacity limits for global property energy demonstrates our ongoing commitment to clients and brokers to provide comprehensive coverage solutions in a high demand insurance sector,” said Tony Mammolite, president, global property. “Access to deeper capacity will enable us to pursue continued growth within specialty energy markets on a global scale.”
Peter Coleman, who leads the energy industry practice group, added: “Additional capacity signals to new and existing clients that Ironshore intends to build upon its recognised market presence in the energy sector, where we have established a solid footprint since 2007.”
Ironshore, Bermuda, Tony Mammolite, Reinsurance, Peter Coleman