Torus Appoints Group Chief Risk Officer
1st February 2010
Torus, the global specialty insurer, has appointed Carl Groth as Group Chief Risk Officer with immediate effect. Based in New Jersey and reporting to Chief Executive Clive Tobin, Mr. Groth will drive the development of a comprehensive and integrated enterprise risk management programme for the Group worldwide. He will also be a member of the Executive Management Team.
Before joining Torus, Mr. Groth led Deloitte’s US Insurance Enterprise Risk Management practice advising companies on Solvency II related issues and readiness. Prior to Deloitte, he was Managing Director for Willis Group Ltd., responsible for its Enterprise Risk Management and Structured Risk Financing practices for North America. He has also worked in a variety of capacities at the Liberty Mutual Group, ultimately achieving overall responsibility for its Bermuda operations.
An Economics graduate of the University of Washington, Mr. Groth also holds an MBA in Finance and Investments and International Finance from George Washington University.
Commenting on his appointment Mr. Groth said: ‘I am looking forward to building a risk management infrastructure that will optimise and protect Torus’ earnings and capital and contribute to the growth of the Group’s economic value, as well as enhancing its reputation with key external constituencies.’
Mr. Tobin added: ‘This is a critical appointment and the result of a long and thorough search I am delighted that we have someone of Carl’s calibre to establish a strong risk management framework and culture at an early stage of Torus’ evolution.