Ironshore International, now fully owned by Chinese conglomerate Fosun International, is expanding into Shanghai via Lloyd’s.
The Bermuda-based specialty property/casualty insurer will be doing this through its subsidiary Pembroke Managing Agency, which plans to establish a Shanghai office in January as part of the Lloyd’s China platform.
Plans call for having Pembroke Managing Agency underwrite specialty lines of business, with an initial focus on the agriculture, marine and healthcare sectors.
Who will lead this effort? That would be Tracy Ma, who has been appointed underwriting manager of the entity, and will report to Hui Yun Boo, managing director of Ironshore’s Asia Pacific region.
Ma, according to Ironshore, has experience underwriting complex commercial risks in the agriculture and marine industries, including a focus on product development and marketing initiatives.
Previously, Ma has handled specialty lines within the Catlin Underwriting division and Lloyd;’s Insurance Company (China) Ltd., where she managed the marine facultative reinsurance business, including cargo, hull and liability, and also assisted with treaty renewal policy coverages.
Ma also developed specialty programs for commercial equine, livestock and aquaculture insurance risks.
In November, Fosun completed its acquisition of the remaining 80 percent of Ironshore it didn’t already own after an initial investment in February. The M&A deal was worth $1.84 billion.
Source: Ironshore International