Ironshore Inc. has completed the transaction with Chaucer Holdings plc. to buy Pembroke Managing Agency Ltd., which manages Lloyd's Syndicate 4000.

Mark Wheeler serves as the active underwriter for the Syndicate, while the Pembroke Managing Agency is led by Mark Butterworth, managing director, and Mark Wheeler, underwriting director.

Ironshore will take over the 2009 underwriting year of account onwards and Chaucer will retain the 2008 and prior underwriting years of account.

"Ironshore is very excited to enter the Lloyd's market," said Bob Deutsch, CEO of Ironshore. "The Pembroke acquisition completes our strategic goal of having underwriting operations in Bermuda, the US and Lloyd's."