Torus in £120m private equity

London, Bermuda and US insurer Torus, has had a £120m cash injection from American private equity investors, giving Torus more than $1bn (£650m) of equity to support underwriting, the Times reports.

Investment bankers expect the business to seek a listing in London within three years.

Torus Insurance, led Clive Tobin, has expanded from a staff of 20 to 260 since its launch 18 months ago.