First Reserve launches Torus Insurance

First Reserve Corporation, a US-based firm that focuses on investing in energy related businesses, has provided $720m to back the launch of Torus Insurance Holding Ltd.

Torus will operate two companies, Torus Insurance (UK) Ltd and Torus Insurance (Bermuda) Ltd. Both have been given authorisation by their respective local authorities and A-ratings from AM Best. Torus is a technical lines insurer specialising in large complex risks with focus on the energy sector. It will start with onshore and offshore energy and other large industrial property markets and move into other lines over the next 12 months.

The company specialises in insurance products for the energy sector and will be led by David Hope, who has been appointed chief underwriting officer and chief executive officer. The company will be headquartered in London. Torus Insurance will start accepting risks on 1 July.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Industry
• UK / Ireland
• Industrials