Ironshore Inc. has increased its ownership of Lexon Surety Group to 20 percent pursuant to an option that it received as part of its initial investment in Lexon in 2013. Ironshore's insurance subsidiaries will continue to provide quota share reinsurance and a primary fronting facility on new and renewal business for most types of U.S. commercial and contract surety risks.

The additional investment in Lexon follows the inclusion in December 2013 of Ironshore Indemnity Inc. and Ironshore Specialty Insurance Company on the U.S. Department of Treasury's Listing of Approved Sureties. Ironshore Indemnity was approved to provide surety bonds of up to $12.37 million per bond while Ironshore Specialty was approved to provide surety bonds of up to $30.97 million per bond.

“Increasing our ownership to 20 percent is the next step in building our strategic alliance with Lexon and expanding Ironshore's participation in the surety market,” said Paul S. Giordano, the chairman of Ironshore for political risk, special risk, and surety. ”Our latest investment adds to Lexon's financial strength and positions us well with Lexon to grow their nationwide franchise.”