Ironshore has formed a dedicated Global Energy Property business, as an extension of its Global Property division, the Bermuda-based insurer announced yesterday.

Ironshore will underwrite comprehensive coverages on commercial risks across virtually all classes within the specialty Energy sector.

Ironshore, since its inception more than two years ago, has been providing energy property coverage to diverse commercial clients worldwide through its Bermuda platform.

Kevin Kelley, CEO of Ironshore, noted that the new division reflects the company's focus on building its business through growth opportunities within core specialty market sectors.

"The energy insurance market, while competitive, represents a specialty class of business that leverages Ironshore's combined strength of market expertise and proven track record," stated John Murphy, Head of Global Property.

"Our team of dedicated professionals, led by David Whiting, shares a commitment to continue to build Ironshore's Energy Property practice."

Ironshore will provide up to $10 million in capacity targeted to primary and lower buffer layers. This unit will underwrite all traditional energy and technical classes of business including but not limited to pulp/paper, basic metals and glass.