Torus Insurance Holdings Limited, a new specialist insurance company underwriting from London, said it has agreed to purchase Praetorian Specialty Insurance Company, a shell entity with licenses that Torus can use to expand its U.S. business.
Financial terms of the agreement to buy Praetorian, a member company of QBE the Americas, were not disclosed.
Torus, which began operations in June, noted that PSIC is eligible to do business as an excess and surplus lines insurer in 42 U.S. jurisdictions.
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