Industry veteran plays key role in building companies

Longtime industry executive Robert Clements' involvement in the creation of Bermuda-based Ironshore Ltd., which has raised more than $1 billion through a private placement of its equity securities, is only the latest chapter in his key role in building and running insurance industry firms.

Mr. Clements, in his early 70s, and son John are partners in Greenwich, Conn.-based Tara Investment Partners L.L.C., which arranged Ironshore's financing.

Mr. Clements is chairman of Ironshore, although he is expected to step down from that post "in a relatively short period of time," according to Ironshore Chief Executive Officer Robert V. Deutsch.

He is also chairman of New York-based insurance brokerage Integro Ltd., which started operations last year after securing more than $300 million in a private securities placement.

In addition, Mr. Clements has had a hand in building ACE Ltd., XL Capital Ltd., Mid-Ocean Reinsurance Ltd. and Arch Capital Group Ltd.—all based in Bermuda.

Until March 2005, Mr. Clements was chairman of Arch, which he founded in 1995. Prior to Arch, he was president and a director of New York-based Marsh & McLennan Cos. Inc. He was also founder of MMC's private equity business and served as its CEO until 1996. Previously, he was responsible for Marsh's worldwide brokerage operations.

Among his other industry associations, Mr. Clements is board chairman of the New York-based Risk Foundation, which supports research and programs aimed at better understanding the dynamics and management of risk.

He is also former chairman of the board of overseers of the St. John's University School of Risk Management, Insurance and Actuarial Science in New York.