Ironshore has expanded its Iron-Starr Excess Agency (Iron-Starr) partnership with Oil Casualty Insurance (OCIL) to include underwriting property lines.
The broadened relationship with OCIL will enable Iron-Starr to grow syndicated capacity for commercial property risks, including natural catastrophe perils within the Bermuda market.
Ian Smith, Ironshore Senior Vice President and Head of Bermuda Property, said: “Iron-Starr’s newest agreement with OCIL strengthens our capabilities for delivering greater capacity for commercial property lines, where we have seen growing demand in the Bermuda marketplace. We are pleased to incorporate property risk within Iron-Starr’s increasingly diverse product portfolio.”
Iron-Starr has underwritten on behalf of OCIL, a subscribing insurer for Financial Lines, since 2016.
The expanded partnership authorizes the insurer to underwrite D&F insurance with limits separate and distinct from coverage offered directly by OCIL’s property team.
Jerry Rivers, Chief Operating Officer (COO) of OCIL, said that the partnership “allows us to tap into Ironshore’s underwriting expertise, technological efficiencies and production sources, thereby extending our goal to diversify the OCIL business portfolio.”
Iron-Starr’s Rolf Fischer is set to lead the expansion of the firm’s Direct & Facultative property insurance sector presence.