Ironshore’s wholly owned subsidiary, Ironshore Holdings (U.S.) Inc., and Rockwood Programs Holdings Inc., entered into an agreement with
Ironshore will be the majority shareholder of Wright & Co., and will appoint a majority of Wright & Co.’s Board of Directors, including the chairman. It is anticipated that one or more insurance company subsidiaries of Ironshore will underwrite the professional liability coverage administered by Wright & Co., while personal umbrella lines, life, health, dental and disability insurance coverages will continue to be provided by third-party insurance companies. Rockwood Programs will provide certain services and manage the daily operations of Wright & Co., under the leadership of Glenn Clark, CPCU, Wright & Co.’s president.
“Our team is thrilled to be partnering with Ironshore,” says Clark. “We know their management well and share their rock solid commitment to profitable growth.”