Bermuda-based broker Ironshore Inc. announced that its US subsidiary, Ironshore Holdings (US) Inc., has completed the acquisition of Stockbridge Insurance Co., a US-based admitted insurance company, from Folksamerica Reinsurance Co.

Subject to regulatory name change approval, the company will be renamed Ironshore Indemnity Inc.

Ironshore Indemnity Inc. has licenses in 46 states plus the District of Columbia, and it will be the admitted carrier for Ironshore's US operations, which currently consist of the IronPro and IronBuilt divisions.

"We are pleased to have acquired a clean, admitted shell with licenses in so many states," said Greg Flood, president of both Ironshore Indemnity and IronPro. "Ironshore Indemnity Inc. gives us an excellent platform to expand our US admitted operations."

IronProand IronBuilt enable Ironshore to offer professional liability and construction specialty market cover.