Renewable Energy Casualty Team joins Torus
5th January 2010
Angie Adams, Adam Newman and Wayne Jacobson, a renewable energy underwriting team since 2002, today join global specialty insurer Torus to write primary lines of general liability and auto liability for renewable energy. Based in New Jersey the team will also have umbrella and excess capacity. Ms Adams will lead the team as Senior Vice President, with Mr. Newman and Mr. Jacobson joining as Vice Presidents. They join Torus from HSBC Intermediary Solutions, which they helped to create in 2006, having originally worked together in AIG’s Global Energy Middle Market (GEMM) division.
Ms Adams was formerly President of HSBC Intermediary Solutions. She has over 20 years of experience in various production and management roles within the specialty insurance arena, focussing on technology and energy related risks. As well as HSBC and AIG, she has also worked at LK Lloyd and Marsh.
Mr. Newman was most recently Senior Vice President of HSBC Intermediary Solutions. Before moving to AIG, Mr. Newman created Strategic Alliance Partners Inc. in 2001, providing personal lines insurance across Northeast America. He also worked at Northwestern Mutual/Robert W. Baird Securities.
Mr. Jacobson was most recently Vice President and Chief Underwriting Officer of HSBC Intermediary Solutions. Since 1977 he has served in various underwriting and management capacities within the property and casualty (re)insurance industry, beginning his career with Continental Insurance Company.
David Perez, Head of Global Casualty said: “More commercial businesses than ever before are focusing on the expansion and development of energy generated from natural resources such as sunlight, wind, rain, tides, and geothermal heat. From 2006 to 2008, investment in renewable energy has more than doubled. Developing custom products and services that cater to the renewable energy industry, as well as hiring an underwriting team with proven expertise, only reinforces our strategic goals of providing specialized underwriting solutions for our customers.”
Linc Trimble, Head of US Excess Casualty and to whom the team will report added: “Our team will work with a variety of renewable energy councils, industry groups and brokers in order to keep abreast of the constantly changing needs in this sector. Torus has already made a big impact in the casualty insurance market, and combined with the existing expertise and relationships of Angie and her team, we have a great opportunity to provide exceptional service this growing industry segment.”