Ironshore Insurance’s Singapore branch has increased its capacity for political risk business lines within its political risk and trade credit unit.

Taking effect immediately, the available capacity now stands at US$50mn, up from US$15mn.

The branch has also hired a new addition to its political risk and trade credit team with the appointment of Sam Lim as underwriter for Asia Pacific.

He joins from AIG, where he served as head of trade credit, Singapore.

Lim reports to Boo Hui Yun, managing director of Ironshore Asia Pacific, who comments on the expansion: “Insurance industry appetite in Asia for specialty lines products dedicated to uncertain, emerging risks is driving heightened market demand. We recognise the value of broadening our reach by increasing our capacity throughout the region, with Sam now on board to support Ironshore’s growth in this business lines portfolio.”

Ian Rouse, head of political risk and trade credit for Ironshore Asia Pacific, adds: “Sam has a successful track record in developing specialty lines in the Asia-Pacific region.  We are delighted to have him on board and further enhance our offering to brokers and clients”

Ironshore, a global specialty insurer, was recently acquired by Liberty Mutual Insurance, but continues to operate with its existing brands, management teams and business strategies.