Torus Offering $50M Excess Liability Capacity

Torus Insurance announced today that it is offering up to $50 million excess liability capacity to respond to shifting customer opinions about existing capacity providers.

David Perez, Torus' president and chief underwriting officer, global casualty, said: "At a time when many established casualty markets are experiencing a significant intellectual capital drain in the underwriting sector, and buyers are developing new opinions of carrier acceptability, we have created a premier capacity alternative to address this fundamental shift in our industry."

Mr. Perez went on to tout the value of customer relationships with an experienced team that his outfit has assembled, noting that the capacity can respond in virtually any class of business.

The newly available capacity from Torus "comes when clients are looking to diversify their programs as well as source additional capacity," Mr. Perez said in a statement.

Torus, launched in the middle of last year with more than $720 million of capital provided by First Reserve, a Greenwich, Conn.-based private equity firm specializing in the energy sector, currently provides specialty property and casualty insurance and reinsurance products to a global client base through insurance subsidiaries in the United Kingdom, United States and Bermuda.

The excess casualty capacity can be accessed through the Bermuda unit, Torus said.

Torus' main areas of expertise include energy, power, utility and construction as well as other highly engineered risk classes.