Ironshore has scrapped its plan to acquire all of the shares of Assetinsure Holding, by mutual agreement of the parties.

The transaction was announced earlier this year, but remained subject to customary closing conditions.

"Both parties agreed that it was not in their best interests to continue with the transaction after extensive discussions. We wish Assetinsure well in its future endeavors," stated Mark Wheeler, Chief Executive Officer of Ironshore International Limited.

Ironshore Australia Pty. Limited ACN 149 117 724 is an Australian Financial Services Licensee (No. 410699), authorised to provide financial services by dealing in and advising on general insurance products, both for retail and wholesale clients.

Ironshore Australia is an approved Lloyd’s Coverholder 110616STY, with current binding authority from Pembroke Lloyd’s Syndicate 4000.