Torus Announces Appointment of Group Chief Financial Officer

Torus, the global specialty insurer, announced today that Tim Harris will be joining the company as Group Chief Financial Officer, subject to regulatory approval.

Mr. Harris, who has more than 20 years’ experience in financial and capital management, will also be appointed to the Group’s Holdings Board and will become a member of Torus’ Executive Committee, reporting to Clive Tobin, Group Chief Executive. In addition to the finance function, Mr. Harris will also assume direct supervision of Torus’ Operations team headed by Michael Kim.

Mr. Harris is currently the Deputy Group Chief Financial Officer and Chief Capital Officer of Aviva plc, where he is responsible for leading the group capital team with specific responsibility for managing capital across Aviva, including treasury, asset & liability management, reinsurance and Solvency II, having previously served as Chief Financial Officer, Aviva Europe and Chief Accounting Officer, Aviva plc.

Prior to joining Aviva, Mr. Harris was a Partner in the Global Capital Markets practice at PricewaterhouseCoopers.

Mr. Harris is a Graduate of Durham University and Warwick Business School, a Fellow of the Institute of Chartered Accountants and a Chartered Insurance Practitioner.

Commenting on Mr. Harris’ appointment, Mr. Tobin said, “Tim is a key appointment for Torus. His deep experience across finance, treasury and capital markets will become increasingly important in the next phase of our strategic development. I also look forward to him joining our leadership team and playing an integral part in shaping Torus’ future.”

Torus Recognized as Model Insurer by Leading Research and Consulting Firm

Torus, the global specialty insurer, today announced that it has been recognized by Celent – a research and consulting firm focused on the application of information technology – as a 2012 Model Insurer for the development of a new and revolutionary online web portal, ESCAPE.

Honored for delivering a state-of-the-art portal that improves the online quote to bind process for brokers selling umbrella and high excess liability policies, Torus is part of a select group of insurers recognized by Celent for its accomplishments and best practices in the use of technology. Celent’s awards are presented annually to insurers that demonstrate best practices in utilizing technology.

“The vision for Celent’s Model Insurer research is to try to answer an apparently simple question: ‘What would it look like for an insurer to do everything right with today’s technology?’” said Karen Monks, an analyst in Celent’s insurance practice. “Torus was chosen for Model Insurer because of the company’s best practices in channel management, improving productivity and better enabling end user feedback.”

Naveen Anand, CEO of Torus Americas, said “ESCAPE has been, and continues to be, a key investment and growth initiative for Torus.  As Torus continues to expand and meet the market demand for innovative specialty insurance products, we firmly believe delivery should leverage the 21st century technology platforms recognized by this award.”

ESCAPE was launched by Torus in 2010 with the goal of streamlining the quote–to-bind process for brokers. Using the latest breakthroughs in software and technology, the portal‘s offerings include a quick quote option, immediate policy issuance, multiple limit options at quote as well as access to communicate with an underwriter in real time.

The portal is currently available for select brokers selling umbrella and high excess liability policies to small businesses. Umbrella and Excess products are available on an Excess and Surplus Lines basis. Excess products are also available on an Admitted basis.

Plans for additional Torus products to be offered via the portal are in place for 2012.

To learn more about Torus visit www.torusinsurance.com.

Torus Appoints Gilles Rousseau to Develop General Property in France

Torus, the global specialty insurer, has appointed Gilles Rousseau as Senior Underwriter, General Property. Based in Paris and with over 30 years of underwriting experience and extensive knowledge of the French industrial property market, Mr. Rousseau is responsible for developing Torus’ General Property platform in France, working in conjunction with Torus’ wider European General Property practice under Head of General Property for Europe, Franco Masciovecchio.

Mr. Rousseau’s appointment follows the recent hiring of Senior Underwriters Brian Byrnes for General Property and Marco Sonntag for Casualty for the German, Swiss and Austrian markets.

Torus also recently acquired the renewal rights to CV Star Syndicate 1919’s Continental European Marine, Casualty and General Property business from January 1, 2012. As part of the agreement CV Starr’s Continental European based team have joined Torus, including Didier Bayle, Senior Underwriter, who will work alongside Mr. Rousseau to develop Torus’ General Property platform in France.

Dermot O’Donohoe, Chief Executive of Torus International, said, “Since launching Torus’ European operation in September 2009 we have established local underwriting teams across the Continent, with underwriting centres now in Paris, Amsterdam, Cologne, Milan, Rotterdam and Zurich.
“France is a key market and Gilles’ appointment, along with the addition of Didier to the team from CV Starr, gives Torus an important physical presence in the French property market.”

Mr. Masciovecchio said, “The European general property market continues to be very competitive but Torus is building an effective platform to produce a credible and sustainable offering. We are developing into a serious alternative and market player for sophisticated insureds.”

Mr. Rousseau joins Torus from XL Insurance where he was a Property Underwriting Manager responsible for leading and writing large industrial and commercial risks for clients based in France. He was previously a Division Manager at SCOR Business Solutions and oversaw writing large treaty, facultative and direct industrial risk in property, casualty and construction with an international remit. Prior to that role he held management and underwriting positions at SCOR Reinsurance. He began his career as a Property and Engineering Underwriter with UAP Reassurance before it merged with SCOR in 1990.