Ironshore Inc., now fully owned by Chinese mega-conglomerate Fosun Group, has entered the New Zealand market in a move that furthers its Asia Pacific expansion.
Specifically, Ironshore International launched a New Zealand office in Auckland. Plans call for operating the office as a branch of Ironshore Australia, which is led by Managing Director Katherine Simmonds.
Among the major New Zealand staffers so far – Robert Sollaway, who will be Asia Pacific regional manager for agriculture. He joins Ironshore from Novae, a reinsurance underwriter. Ironshore snatched up reinsurance renewal rights to Novae Group’s global agriculture reinsurance portfolio in October 2015.
Fosun investment arm Fosun International concluded its acquisition of Ironshore shares it did not already own in late November, closing a $1.84 billion merger deal first announced in May.
Ironshore, a Bermuda-based specialty insurer, will help spot U.S. businesses and assets for Fosun – targeted acquisitions for which Ironshore has the ability to support the underlying risk.
Source: Ironshore Inc.