Ironshore Insurance Ltd., Singapore Branch, announces increase in capacity for Political Risk business lines within the Political Risk & Trade Credit unit. Available capacity now stands at $50 million (USD), an increase from $15 million (USD), effective immediately. In addition, Ironshore is expanding its Political Risk & Trade Credit team in Singapore with the appointment of Mr Sam Lim to serve as Underwriter, Political Risk & Trade Credit, Asia Pacific, reporting to Mr Boo Hui Yun, Managing Director, Ironshore Asia Pacific. Mr Lim joins Ironshore from AIG.
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.