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New 'Bermuda Triangle' Emerging,

Bermuda insurers are continuing to pursue strategies to diversify their operations by acquiring or launching facilities offshore, but while most will travel the distance to London or the United

By Susanne Sclafane | Updated on February 10, 2008

Bermuda insurers are continuing to pursue strategies to diversify their operations by acquiring or launching facilities offshore, but while most will travel the distance to London or the United States to do so, they won’t bolt for new businesses at any price, executives on the island say.

Robert Deutsch, chief executive officer of Ironshore, founded in early 2007 as a commercial property insurer, admits that his company’s first steps to expand–which involved the launch of two liability operations in the United States late last year–did not come about quite the way he envisioned. “We originally thought we would be in London before the United States, and that has not happened,” he said.

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