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Ironshore opens Singapore office

Bermuda-based property and casualty insurer, Ironshore, is opening an office in Singapore to provide commercial products for the Asian marketplace.

The branch will focus on financial and commercial professional liability, warranty and indemnity, casualty and environmental, war and political violence, high value cargo, fine art and specie coverage.

“Ironshore’s entry into the Asian market establishes a presence in Singapore that is the logical next step in expanding our global footprint for servicing the growing demand for innovative insurance solutions within this dynamic region,” said Kevin Kelley, CEO of Ironshore Inc.

Chen Dai will be the principal officer of the new branch, while John Moncavage joins as vice-president of political risk.

In January,

The Royal Gazette revealed Ironshore was to let go a total of at least 16 employees, with eight of them being Bermudian.

Ironshore has said “approximately a dozen employees in Bermuda” would be affected by the job losses along with Ironshore vendors for all of Ironshore offices.

The redundancies are part of the company’s IronServe initiative to improve operational efficiencies across all platforms and transition certain business support services. The initiative will be implemented over a 15 to 18-month period.

A spokeswoman for Ironshore said that approximately 60 to 70 employees would be affected. As part of IronServe, Ironshore entered into a partnership with Genpact, a global pioneer of business process outsourcing which operates from India, Europe, North America and other countries.

Ironshore was founded in 2007 and has 20 offices around the world, with Singapore being its 21st.

Ironshore CEO Kevin Kelley

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Published February 02, 2012 at 1:00 am (Updated February 02, 2012 at 7:06 am)

Ironshore opens Singapore office

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