Ironshore Inc. announced today that it is entering the Professional Liability sector with the launch of IronPro, under the direction of industry veteran Greg Flood as President.  IronPro, based in New York, will initially focus on Directors & Officers Liability insurance, with additional Professional Liability products to be introduced in the near future. 

“All of us at Ironshore are excited about the creation of IronPro as a dedicated facility organized to offer Professional Liability insurance, which is a logical business extension of our commitment to meeting specialty insurance market needs,” said Bob Deutsch, Chief Executive Officer of Ironshore. “Our initial timeline for expanding into this market has been accelerated because of our success in attracting Greg, an industry leader with an incredible track record.” 

IronPro Leadership
Greg Flood has been a recognized expert in the Professional Liability insurance sector for more than 25 years, of which 17 were dedicated to a range of leadership positions at American International Group (AIG).  Most recently, Mr. Flood held the title of Executive Vice President and Chief Operating Officer of National Union Fire Insurance Company, a subsidiary of AIG.   He also co-founded and served as Chief Executive Officer of Global Specialty Risk, a D&O insurance entity launched in 2000.  

“I’m very pleased to play an instrumental role in building this new insurance facility and helping Ironshore provide a solution to meet expressed marketplace demand,” said Mr. Flood.  “IronPro management brings to this business the highest degree of integrity and dedication to serving clients in the specialized Professional Liability insurance marketplace.”

Fred Marra has been named Vice President of Operations.  Previously, he was Vice President of Underwriting Services for Arch Insurance Group in New York.  Mr. Marra will be responsible for all facets of building and managing the IronPro operation, including administration, human resources, compliance and coordination of support services.

Les Rock, President of Ironshore Insurance, commented, “Our new entry into the Professional Liability insurance sector reflects Ironshore’s ability to implement a sound business strategy in response to changing market conditions and competitive opportunities. This expansion is consistent with our original plans to offer products beyond property and property catastrophe coverages.”

Ironshore Inc. was created in December 2006 with over $1 billion in equity capital.  Through its subsidiaries, Ironshore underwrites specialty insurance lines of business.  Ironshore Insurance Ltd., the principal operating subsidiary, has a financial strength rating of A- (Excellent) and financial size category XI by A.M. Best Company.

Editorial Contact:
L. Gaye Torrance
TorranceCo
New York, New York
(212) 691-5810
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lgtorrance@torranceco.com