Effective immediately, Liberty International Underwriters will integrate Ironshore operations throughout the Asia-Pacific.
Boston-based Liberty Mutual acquired New York-based Ironshore in a $US3 billion ($4.1 billion) deal completed in May last year.
A total of 13 Ironshore employees in the Asia Pacific will join the existing Liberty team and continue writing business that includes warranty and indemnity, trade credit, political risk and war and terrorism.
Where there is role duplication, “a small number” of Ironshore employees will depart the group, Liberty Mutual says.
William Lewis, who was appointed Ironshore Australia MD last year, will be among staff to move across to the larger Liberty Mutual operations, a spokesperson told insuranceNEWS.com.au.
Liberty International Underwriters Asia Pacific President and MD Mike Abdallah said in Sydney today the company is consolidating its brands.
“Our well-established team offers a comprehensive suite of commercial insurance products, so it makes sense to integrate the specialty operations of Ironshore into our business,” Mr Abdallah said.
The Ironshore team will start writing business under the associated Liberty brands from January.
Claims will continue to be handled in line with present arrangements, and Ironshore, Liberty and its London-based managing agency Pembroke will collectively review claims-handling arrangements as the integration moves ahead.
“By integrating Liberty’s broader product offering and invested insurance operations with the legacy Ironshore Asia Pacific team’s earned reputation for entrepreneurial underwriting, we’re confident in our ability to provide holistic solutions to our mutual broking partners and clients,” Mr Abdallah said.