TowerBrook
TowerBrook Capital Partners, L.P.Ironshore Names Kevin Kelley As Chief Executive Officer
Hamilton, Bermuda, December 9, 2008 – Ironshore Inc. has named Kevin
Kelley its Chief Executive Officer and Bob Deutsch its President, the company’s
Chairman, Ron Sandler, announced today. Kelley has been the longtime Chief Executive Officer of Lexington Insurance Company, which under his leadership became the largest excess & surplus lines insurer in the world.
Commenting on this development, Bob Deutsch, the company’s founding Chief
Executive Officer, stated, “Ironshore's singular focus has always been to create
shareholder value by building a world class specialty insurance company. Attracting
Kevin Kelley, one of the most talented insurance executives in the last two decades,
significantly increases our ability to take advantage of the changing insurance
marketplace. I welcome the opportunity to work alongside him.”
Bob Clements, Director and a founder of Ironshore, remarked, “Ironshore has
accomplished agreat deal under Bob Deutsch's leadership these past two years, including establishing successful platforms in Bermuda, the US and London. We thank Bob for his complete support of Kevin and his future role as Kevin's partner.”
“I am excited to join Ironshore and am impressed with what has been
accomplished in its first two years,” said Kevin Kelley. “I look forward to working with
Bob and his talented colleagues to grow Ironshore into a large, specialty company as it moves from its initial development stage.”
Ironshore provides broker-sourced specialty commercial property and casualty
coverages for risks located throughout the world. Through its platform in Bermuda,
Ironshore writes property catastrophe and property all-risk coverage for small to midsized commercial risks. Ironshore’s US operations consist of IronPro, IronHealth,
IronBuilt and IronSelect, and they serve the Professional Liability, Healthcare Liability,
Construction and Excess Casualty specialty market sectors, respectively. Specialty
coverages are underwritten at Lloyd’s through Ironshore’s Pembroke Syndicate 4000.
The Ironshore group of insurance companies is rated A- (Excellent) by A.M. Best with a Financial Size Category of Class XI. Syndicate 4000 operates within Lloyd's where the market rating is A (Excellent) by A.M. Best and A+ (Strong) from both Standard &
Poor’s and Fitch. For more information, please visit www.ironshore.com.