Torus Appoints Demian Smith to Launch Marine Practice

Monday, April 19, 2010: Torus, the global specialty insurer, has appointed Demian Smith as Global Head of Marine with immediate effect.

Reporting to Chief Underwriting Officer of Global Specialty Dermot O’Donohoe, Mr. Smith will facilitate the expansion of Torus’ Specialty offering, which launched last September, through the set up and development of a new marine practice. He is based in London.

“The establishment of a marine practice is an extension of our strategy to position Torus as a leading global specialty carrier. Whilst we will develop opportunities in many of the traditional marine lines we will also be looking to participate in some of the more specialist
products being developed in the UK, US and European marine markets,” said Mr. O’Donohoe.

Mr. Smith said, “Marine insurance, whilst the most mature of insurance products, remains vitally important to enabling world trade. Furthermore, globalisation has led to new challenges for businesses that trade goods around the world. In line with Torus’ overall ambition to both complement and develop the markets in which it operates through a flexible and technical approach to risk, the marine practice will look to offer differentiated products that meet the changing needs of today’s market; to do this we will continue to put together a strong team of experienced professionals. I am excited to be a part of this new insurance proposition at Torus.”

Mr. Smith joins Torus from the Navigators Group-owned Lloyd’s Specialist Marine Syndicate 1221, where he was responsible for Marine and Energy Liabilities. He began his career at Miller in 1995.

An Associate of the Chartered Insurance Institute, Demian holds an MBA from Edinburgh University Management School and a B Eng. (Hons) in Naval Architecture from the University of Strathclyde, Glasgow.

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About Torus:
Torus provides property, casualty and specialty insurance as well as reinsurance products to a global client base through its UK, US and Bermuda based insurance subsidiaries. The US subsidiary, Torus Specialty Insurance Company Inc., offers coverage on an excess and surplus line basis. Areas of expertise include complex property, energy, power, utility and construction as well as other highly engineered risk classes. Torus carries a group rating of A -(excellent) from A.M. Best and has capital in excess of $1billion provided by First Reserve Corporation and Corsair Capital.

For media enquiries, please contact:
Tim Fillingham, Chief Marketing Officer: +44 (0)20 3206 8206
Roddy Watt, College Hill: +44 (0)20 7457 2020

Notes to editors:
Picture of Demian and interview opportunities available on request
Demian will be attending the BMUSF* 18th Biennial Marine Seminar from May 6-7 2010.
http://www.bmusf.org/Biennial%20Marine%20Seminar.htm

Torus Enters Financial Lines Market in London

London, April 6th 2010: Torus UK today announced its entry into the Financial Lines marketplace in London through a newly formed underwriting agency TORUS EXECUTIVE RISKS LTD (TER). 

TER, which is a joint venture with Nexus Underwriting Ltd, will be led by the CEO of Nexus, Colin Thompson, an experienced London market Financial Lines underwriter. TER will underwrite on behalf of Torus Insurance (UK) Ltd, which is rated A- by A.M. Best, and will provide policy limits up to £10 million per risk in the product lines of Directors and Officers Liability, Bankers Blanket Bond, Professional Indemnity, Pension Trustee Liability, Employment Practices Liability and Public Offering of Securities Insurance.

Colin Thompson is joined on the board of TER by Dermot O’Donohoe, (Chief Operating Officer of Torus Europe), Hugh Morland (formerly CEO of Marsh’s FINPRO operations in London and CEO of CNA Insurance Company (Europe) Limited) and Ian Whistondale (formerly of Whistondale & Partners) who will serve as Chairman.

Dermot O’Donohoe commented, “This is an exciting development for Torus which provides us with an innovative springboard into the Financial Lines arena with partners with a proven track record in this sector. We expect TER to be integral to Torus’ ongoing development.”

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For further information, please contact:

Colin Thompson, CEO Torus Executive Risks Ltd
0203 206 8099

Dermot O’Donohoe, Chief Underwriting Officer, Global Specialty
0203 102 4273

About Torus:

Torus provides property, casualty and specialty insurance, as well as reinsurance to a global client base through its European, US and Bermudian based subsidiaries. Launched in 2008, Torus now has over 400 employees in 13 offices worldwide. Torus carries a group rating of A – (excellent) from A.M. Best and has capital of approximately $1billion provided by First Reserve Corporation and Corsair Capital. For more information visit  www.torusinsurance.com