Ironshore said it will consolidate all new Property Energy underwriting in its Bermuda insurance subsidiary Ironshore Insurance under the leadership of executive vice president, Peter Coleman.
Ironshore insurers in the US and elsewhere will continue provide and service property energy coverages for existing and renewal insurance policies outside Bermuda.
Worldwide Property global head Tony Mammolite said Property Energy business has increasingly become a global corporate risk that requires prudent, holistic underwriting by a dedicated team of insurance market experts.
"The creation of the Bermuda Center for Energy will enable Ironshore to oversee new Property Energy business in one central location, thereby better serving the needs of our clients throughout our various global platforms," Mammolite said.
Ironshore property energy provides comprehensive coverage up to $25m in capacity, for commercial risks across virtually all classes within this specialty sector, including alternative energy, basic metals and glass, chemicals, onshore drilling, and electric utilities, among others