Commercial insurance provider gets new London office

One commercial insurance provider based in Bermuda has recently announced it will be opening a new London branch.

Ironshore Europe Ltd, the operating hub for the business liability insurance providers, will be opening a London office after it received permission from the Central Bank of Ireland to do so.

Ironshore Europe’s chief executive, Fiona Marry, has appointed Mr Paul Betts to lead the operation as its branch manager.  Mr Betts will report directly to Ms Marry.

The new office in London will at first be focussed upon underwriting certain specialised insurance business as professional indemnity insurance.  Ironshore International chief executive, Mark Wheeler, said that The London market would benefit from Ironshore’s presence there by offering one more access point and didistribution channel.

Mr Wheeler remarked that Ironshore Europe will be focussing on selected business lines at the very beginning of the London offices.  However, the firm will eventually widen its underwriting expertise in order to construct a platform that takes into full account the comprehensive suite of specialised insurance products that encompasses Ironshore’s capabilities.

With more than two decades of experience in the insurance industry, Paul Betts has served as a lead underwriter for financial and professional lines  for a variety of companies such as  SVB Syndicates, Swiss Re, and Chartis.  In most recent times, Mr Betts served as a Chartis International vice president and was European financial institution manager for the firm, where his responsibilities were to underwrite insurance risk across 28 different countries.

Ironshore Insurance, the group’s insurance company based in Bermuda, is set to provied a significant amount of support to Ironshore Europe.

Industry experts agree that Ironshore Europe will most likely be a welcome addition to the number of professional indemnity insurance providers in the UK.

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