Ironshore Insurance Ltd. was added to the Excess Line Association of New York list last week.

This enables the company, which was set up in January 2007, to provide commercial property and property catastrophe insurance on an excess and surplus basis for risks located in the State of New York.

The speciality insurance company, which is based in Bermuda, has approximately $1 billion of capital and was rated A- (Excellent) by A.M. Best Company with a Financial Size Category of Class XI.

Robert Deutsch, chief executive officer of Ironshore, said: "We are pleased to be approved by the Excess Line Association of New York and we expect to grow our market presence in New York State."

Les Rock, Ironshore's chief underwriting officer, commented: "New York is a key state for Ironshore and we're looking forward to entering the commercial property surplus lines market. We view this approval as a 'win-win' for both Ironshore and New York business owners. Ironshore brings new capacity and creative solutions for property catastrophe and property all-risk insurance coverages."

Ironshore provides broker-sourced speciality commercial property and casualty coverages for risks located throughout the world. With the launch of IronPro in May 2007, IronBuilt in October 2007 and IronHealth in March 2008, Ironshore's US companies serve the Professional Liability, Construction and Healthcare Liability speciality market sectors.