Ironshore forms alliance

Ironshore Inc. and Lexon Surety Group have completed the first stage of a new strategic alliance in the surety market. 

Lexon writes over $100 million in direct written premium annually and is the 12th largest writer of surety bonds in the United States.  Ironshore’s subsidiaries will provide quota share reinsurance and primary fronting facility on new and renewal business for most types of US commercial and contract surety risks.  In addition, Paul S. Giordano, chairman of Ironshore’s Political Risk, Special Risk & Surety businesses, will become a director of Lexon.

Kevin H. Kelley, CEO of Ironshore, said, “Entering the surety market has long been a strategic goal of Ironshore and this will allow us to meet a broader range of customer needs.  We are very pleased to be doing so through the alliance with Lexon.”