Torus Strengthens European Service Delivery with Senior Appointments

Torus, the global specialty insurer, has appointed Jason Mortimer as European Client Relationship and Business Development Director. Formerly Torus’ Head of European Property, Mr. Mortimer will now direct client and broker relationship development across continental Europe. As a result of this change, Torus’ Franco Masciovecchio, Head of Global Onshore Oil, Gas & Petrochemical, assumes the additional role of General Property Head of Europe.

Richard Etridge, Chief Operating Officer of Continental Europe and to who Mr. Mortimer now reports, said, “Building close working relationships with clients and brokers that endure the market cycle is our aim in Europe. Jason’s new focus at this time, along with Franco’s broader remit, demonstrates our commitment to this.”

Mr. Mortimer said, “In Continental Europe there is no transaction hub as in London, but many local insurance hubs with differing drivers and dynamics. Both Franco and I have extensive experience in the European markets and their specific needs. In our new roles we can ensure Torus’ message and tailored product offering gets to the right brokers and risk managers in each market.”

Mr. Masciovecchio said, “The European general property market continues to be very competitive, driven by oversupply of capacity and good historic results. Torus’ approach combines insurance and risk engineering expertise to provide pragmatic solutions with a particular focus on longer term benefits of a lasting relationship with clients. It’s an approach that’s proving particularly attractive to sophisticated buyers who appreciate the added value our experience and expertise brings.”

Zurich-based Mr. Mortimer joined Torus as part of the acquisition of Glacier Insurance AG in May 2010. His 16 year career encompasses both underwriting and broking experience throughout Europe at Aon, Lockton, Gerling Global Re, Zurich Re and Converium. He joined Glacier in 2007 as Head of Worldwide Property. A French & European Law graduate of both Leicester University, England and Robert Schuman University, Strasbourg, he is a native English speaker and fluent in German, French and Italian.

Mr. Masciovecchio also joined Torus as part of the acquisition of Glacier Insurance AG. He joined Glacier in 2005 to build and head up the company’s Property and Energy direct and facultative business. He has over 20 years of experience in (re)insurance having held senior underwriting positions at SwissRe, General Re, Zurich Insurance and Lloyd’s. He is a Business Economist and holds an MBA from the University of Chicago. He speaks fluent English, German, Italian, French and Spanish.

Kofi-Sikah Recruited to Join Torus Executive Risks

London-based underwriting agency Torus Executive Risks (TER), the joint venture between global specialty insurer Torus and Nexus Underwriting Management Ltd., has appointed Michael Kofi-Sikah as Senior Financial Lines Underwriter.

Mr. Kofi-Sikah joins TER from Liberty Mutual Insurance Europe where he was most recently Senior Financial Lines Underwriter, writing Commercial D&O and Financial Institutions products. During his ten year career in the London Market he has also held various broking roles, including an Assistant Vice President position at Marsh Finpro and broking Commercial D&O, Commercial Professional Indemnity and Warranties & Indemnities at JLT Risk Solutions.

Colin Thompson, CEO of TER, said, “Michael’s experience in the London Market will further enhance our existing Financial Lines team. Such appointments ensure we continue delivering the highest levels of service as we develop.”

Commenting on this development, Dermot O’Donohoe, Chief Underwriting Officer of Global Specialty and Director of TER said, “TER is one of several platforms created in 2010 to diversify Torus’ underwriting portfolio and advance profitable growth in niche markets. TER is on track to accomplish this through unique Financial Lines products supported by senior expertise and excellent service delivery.”