Liberty takes on Ironshore Europe

Liberty Specialty Markets (LSM) has entered into an agreement with Ironshore Europe to take on its non-M&A business and staff as part of its growth plans in Europe. LSM and Ironshore write specialty insurance and reinsurance and are a part of Liberty Mutual’s Global Risk Solutions division. The move will see Ironshore’s locally written European retail business from its Cologne, Zurich and Rotterdam offices offered for renewal by LSM. However, the company will cease to underwrite new business from these locations - though it will retain staff to handle the run-off of existing policies. Kadidja Sinz, Liberty Specialty Markets’ head of Europe, said: “This is a further step in our overall strategy to be a leading specialist insurer in Europe.” Ironshore’s M&A underwriting business in Frankfurt will be unaffected by the move and will continue to operate under the Ironshore brand. LSM recently rebranded its reinsurance division as Liberty Mutual Re and launched a reinsurance operation in Italy for the first time. In North America, Liberty Mutual Re US has also started to write marine business for the first time.

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