Europe

Ironshore completes Lloyd’s buy

Ironshore Inc, the Bermuda-based p/c insurer, has marked its entry to the Lloyd’s insurance market by completing the purchase of Pembroke Managing Agency Ltd. The agency, previously owned by Chaucer Holdings Plc, manages Syndicate 4000. Ironshore will take over for the 2009 underwriting year while the current 2008 underwriting year will be retained by Chaucer. Bob Deutsch, chief executive of Ironshore, said the acquisition completes its strategic goal of establishing underwriting operations in Bermuda, the US and Lloyd’s.