Ironshore, Lexon Broaden Their Strategic Alliance
Bermuda-based Ironshore Inc. and Lexon Surety Group have announced that they will broaden their strategic alliance by providing additional capacity for Boston Indemnity Group [BIG], a subsidiary of Lexon.
Ironshore will provide quota share reinsurance capacity for BIG and serve as a primary fronting facility for new and renewal business for U.S. commercial and contract surety risks.
BIG is a provider of specialty solutions to the surety market, focusing on small-to mid-size companies that are underserved in the traditional surety market.
Charles Cygal, Vice President of Ironshore Surety stated, “This agreement provides Ironshore an additional avenue to access the specialty surety market and will allow the alliance to significantly focus on the Northeast surety market.”
Matthew Semeraro, President and Chief Executive Officer of BIG added,“Our team is eager to leverage this relationship with Ironshore to grow our business and by partnering with Ironshore, our bondholders and agents can feel confident in the financial strength and stability of a highly regarded insurance entity.”
Well thats made my weekend, thank you ber news, I’m sure we are all excited by this.