Global speciality insurer sets up Bermuda MGA for UK arm
Global speciality insurer Torus has established a managing general agency (MGA) in Bermuda for its UK business.
Torus(Bermuda) Services Ltd is an MGA for Torus Insurance (UK)
The MGA will provide enhanced service to its customers, increase the depth of current product offerings and expand its distribution network.
The MGA will develop and promote new casualty products for the local market and provide increased flexibility for clients and brokers when placing casualty business with its Bermuda underwriting platform, as they can now access either Torus Insurance (Bermuda) Ltd, or its excess and surplus lines eligible UK insurer, Torus Insurance (UK) Ltd. from a single location.
Lane A. Schaffer will assume the position of Senior Vice President, Torus (Bermuda) Services. Mr. Schaffer will be based in Bermuda and will report directly to David Perez, Torus’ President and Chief Underwriting Officer of Global Casualty, and President of Torus (Bermuda) Services Ltd.
The global casualty team has also expanded with the appointment of Mark St. Aoro as Global Casualty Product Line Executive. In this newly created position Mr. St. Aoro will be responsible for ensuring underwriting consistency and quality across the Torus casualty platforms worldwide, oversee the development of new products and IT infrastructure and maintaining all internal and regulatory compliance standards. St. Aoro will report directly to Perez. He will be based in Torus’ New Jersey office.
Commenting on the launch of the new MGA and the additions to his team, Perez said: “The ability to design flexible products that respond to the individual needs of our clients while at the same time expanding our worldwide platform is a key strategic objective for Torus. The launch of Torus (Bermuda) Services Ltd. is a significant step in the execution of our business plan.
“Lane has extensive underwriting and management experience in North American lead umbrella casualty products and in-depth knowledge of the US tort environment. He brings a tremendous depth of technical experience to this facility.
“Mark, is a seasoned insurance executive who possesses both technical and strategic experience that will be invaluable to Torus in our continuing expansion in the US and around the world.”
Schaffer joins Torus from AIG where he most recently led the operations and strategic direction of a department charged with securing new and renewal business for Fortune 2000 accounts. Prior to AIG, he was a Partner at Evans & Clesi in New Orleans having begun his career in insurance defense in 1989 at Lobman, Carhahan & Batt.
St. Aoro joins Torus from C.V. Starr & Company where he was most recently responsible for the development of new product initiatives. Prior to C.V. Starr, he worked at Great American
Insurance, Chubb and Zurich. At Zurich, he served as the Chief Compliance Officer for the Specialties Business Unit, and was the Line of Business Director for Specialty Products in North America.
