September 16, 2018 by Greg Meckbach
Commercial specialty insurer Ironshore Canada is being re-branded as Liberty Mutual Canada.
In addition to Ironshore, Liberty International Underwriters Canada is also being rebranded as Liberty Mutual Canada, the insurer announced Thursday.
But for the rest of 2018, “policies will continue to be written on Liberty Mutual Insurance Company and Ironshore Insurance Ltd (Canada Branch) paper,” Liberty Mutual added. “Once integration is formally approved by the regulator, operations will formally align as a branch of Liberty Mutual Insurance Company and write on that paper, with a target date of early 2019.”
Boston-based Liberty Mutual acquired Ironshore from Shanghai-based Fosun International Ltd. in 2017 for US$2.9 billion.
Liberty Mutual placed 23rd in a ranking of property and casualty insurers – by net premiums written in 2017 – Canadian Underwriter’s Statistical Guide. The guide ranks Liberty Mutual as the eighth largest liability writer in Canada with $207.8 million in direct premiums written last year. Ironshore’s total net premiums written in Canada is less than $10 million a year.
In Canada, Ironshore’s offerings include representations and warranties, which cover risks involved in corporate acquisitions. Ironshore also writes professional liability, environmental, trade credit, political risk, marine, war and terrorism, and specie and fine art, among others.
Liberty Mutual’s chief agent for Canada is Garth Pepper (pictured). In addition to liability, Liberty Mutual also writes auto, commercial property and surety in Canada.
As of Sept. 13, 2018, Dane Hambrook was listed by the Office of the Superintendent of Financial Institutions as chief agent for the Canadian branch of Ironshore Insurance Ltd.
Worldwide, Liberty Mutual reported premiums of US$37 billion in 2017.