NU Online News Service, Oct. 1, 1:5 p.m.EDT

Global specialty insurer Torus said it has established amanaging general agency in Bermuda for its United Kingdom-basedexcess and surplus lines company, Torus Insurance (UK) Limited.

The new MGA will be called Torus (Bermuda) Services Ltd. andLane A. Schaffer will be senior vice president, Torus said.

Mr. Schaffer joined Torus from American International Groupwhere he most recently led the operations and strategic directionof a department charged with securing new and renewal business forFortune 2000 accounts.

Torus said Mr. Schaffer will report to Torus president and chiefunderwriting officer of global casualty David Perez.

"The MGA will develop and promote new casualty products for thelocal market and provide increased flexibility for clients andbrokers when placing casualty business with its Bermudaunderwriting platform, as they can now access either TorusInsurance (Bermuda) Ltd or its excess and surplus lines eligible UKinsurer, Torus Insurance (UK) Ltd., from a single location," thecompany explained.

Mr. Perez said, "The ability to design flexible products thatrespond to the individual needs of our clients while at the sametime expanding our worldwide platform is a key strategic objectivefor Torus. The launch of Torus (Bermuda) Services Ltd. is asignificant step in the execution of our business plan."

Torus also announced it has appointed Mark St. Aoro to the newlycreated position of global casualty product line executive. Mr. St.Aoro will be responsible for ensuring underwriting consistency andquality across the Torus casualty platforms worldwide, overseeingthe development of new products and IT infrastructure, andmaintaining all internal and regulatory compliance standards, Torussaid.

He joins Torus from C.V. Starr & Company where he was mostrecently responsible for the development of new productinitiatives. Prior to C.V. Starr, he worked at Great American,Torus said.