Published:
BestWeek: Perfect Timing: Turmoil In the Financial Markets Has Helped to Fuel Ironshore's Growth
OLDWICK, N.J. - (BUSINESS WIRE) - Steve England, executive vice president of Ironshore Insurance Services
and overseer of Ironshore's U.S. field operations, said his first
meeting with the company was in a pizza shop, according to this week's BestWeek
U.S./Canada. "We didn't have any office space, computers, nothing,"
England said. Just three years after it was founded, Ironshore Inc.,
which focuses on specialty commercial insurance, has seen explosive
growth in 2009. The company is expected to double its top-line premium
this year. It's entered several new businesses, opened a myriad of
offices - now 13 in the United States - and will have doubled its number
of employees to 350 by year end.
In BestWeek Europe, the global reinsurance and insurance markets
are facing a number of tough issues going into 2010, ranging from
pricing and underwriting discipline to capital allocation and Solvency
II, according to Victor Peignet, chief executive officer of French
reinsurer Scor's global property/casualty segment.
And also in BestWeek U.S./Canada, in 2000, it made sense to
nominate a former Goldman Sachs chief executive officer as the New
Jersey Democrats' candidate for the U.S. Senate; corporate executives
were celebrated then. In 2005, the popular senator won a gubernatorial
election by a double-digit margin. But in 2009, the one-time master of
Wall Street couldn't win strongly Democratic Gloucester County. But does
Jon Corzine's failure to win a party stronghold affect the future of
health care reform in Congress? Aside from health care, insurance issues
were not a significant campaign issue. But even though polling showed
strong support for Democrats' health care plans, the issue nonetheless
ranked below jobs, the economy and taxes as New Jersey voters' top
concerns in the governor's race.
BestWeek is published by A.M. Best Co. for insurance
professionals. To subscribe, visit http://www.ambest.com/sales/BestWeek.
Founded in 1899, A.M. Best Company is a global full-service credit
rating organization dedicated to serving the financial and health care
service industries, including insurance companies, banks, hospitals and
health care system providers. For more information, visit www.ambest.com.
A.M. Best Co.
Caroline Saucer, 908-439-2200, ext. 5774
caroline.saucer@ambest.com
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