Ironshore Insurance Ltd., Singapore Branch has announced it is increasing its capacity for political risk business lines within the political risk & trade credit unit.
Currently the available capacity stands at USD$50mn, an increase from USD$15mn, effective immediately.
In addition to this, the company has announced the appointment of Mr Sam Lim as underwriter within its political risk & trade credit at Asia Pacific.
Mr Lim joins the company from AIG. In his new role he will report to managing director, Mr Boo Hui Yun.
Ironshore’s political risk unit offers structured, international policy protection for in-country or cross-border exposure to government actions and political risk events. Trade credit coverages provides obligor default risk mitigation for corporate and financial institutional clients.
Ironshore International underwrites these lines of business in the Asia-Pacific region through its Ironshore Insurance Ltd., Singapore branch and the Pembroke Lloyd’s Syndicate as well as third party paper in Australia, Hong Kong and Japan.