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Member, Beacon International Group, Ltd.
Hamilton, Bermuda-based Ironshore Inc. said Thursday it has acquired Excess Risk Reinsurance Inc., a managing general underwriter that specializes in the employer stop-loss insurance sector.
Ironshore said Ridgeland, Miss.-based ERR offers specific and aggregate excess loss coverage and access to nationally recognized transplant networks to meet the specialized insurance needs of self-funded employers through third-party administrators, brokers and consultants.
It will operate as a wholly owned subsidiary of Ironshore Insurance Services L.L.C. and President Steven M. Parker and Executive Vice President David Dausman will continue to serve in executive leadership positions under the new ownership structure, according to Ironshore.
ERR, which was founded in 1989 as AJD Insurance Consultants Inc., was renamed in 2001. It has regional offices in Boston and Denver, said Ironshore in its statement. An Ironshore spokesman could not immediately be reached for information on the purchase price.
IronHealth has partnered with Medical Mutual Insurance Co. of North Carolina to offer a medical professional liability coverage for hospitals and their physicians.