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Ironshore recruits two more executives from ailing AIG

Bermuda-based insurer Ironshore has recruited two more mangers from American International Group (AIG) to head its new environmental insurance unit.

The company announced yesterday that Joe Boren and John O'Brien have both joined from AIG Environmental. Mr. Boren will become chief executive officer of Ironshore's newly established facility, while Mr. O'Brien will be president.

Last month, Ironshore pulled off a double coup by hiring two top executives from Lexington Insurance, a part of the AIG group. Kevin Kelley took over as CEO of the Bermuda company, while Shaun Kelly came in to be CEO of Ironshore's US operations.

The new environmental unit will write a wide variety of environmental and casualty products with focus on middle market commercial risks.

The products will serve wholesale and retail markets and will include products for contractors, fixed facilities including real estate, professional service companies and manufacturing operations.

Mr. Boren will report to Shaun Kelly and he and Mr. O'Brien will be responsible for building and expanding the platform and product suite. The Environmental Insurance unit will be located at Ironshore's New York office.

Mr. Boren was formerly chairman and CEO of AIG Environmental, which is the largest worldwide writer of environmental insurance and where he has worked for the last 13 years. Prior to AIG, Joe worked for 25 years in the environmental industry, starting as a regulator and ending as COO of an environmental firm.

Mr. O'Brien was president and COO of AIG Environmental and had been with AIG for the last 17 years. He joined the AIG companies in 1992 as an underwriter and most recently served as EVP of AIG Environmental's Commercial and Middle Market divisions.

"Hiring Joe and John is a huge win for Ironshore as it enables us to further diversify and expand into the environmental insurance arena.

This is an area that we have been actively looking to expand into," said Mr. Kelly. "Under Joe and John's leadership, I am confident we will quickly develop as a premier industry presence in this niche specialty market."