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Ironshore International acquires Dubai-based specialty underwriter

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Ironshore International Ltd. has acquired Dubai-based Visionary Underwriting Agency Ltd., Ironshore said Monday.

Visionary writes specialty lines including political violence and terrorism, casualty, energy and construction, in the Middle East, the Far East and Africa, said Ironshore in a statement.

Terms of the transaction, completed in December according to the statement, were not disclosed, said a spokeswoman for Ironshore.

Visionary was founded in 2012 by David Austin, who will continue to serve as CEO of the company, said the Ironshore statement.

“Ironshore’s acquisition of Visionary complements our existing global distribution platform and further expands our foundation for growth opportunities in selected specialty sectors within the Asian and African markets,” Mark Wheeler, CEO of Hamilton, Bermuda-based Ironshore International, said in the statement.