Torus Names Groth New CRO

NU Online News Service, Feb. 2, 9:09 a.m. EST

Bermuda-based global specialty insurer Torus said it has named Carl Groth as group chief risk officer, a new position within the year-old company.

Based in Jersey City, N.J., and reporting to Chief Executive Clive Tobin, Mr. Groth will drive the development of a comprehensive and integrated enterprise risk management program for Torus worldwide, the company said.

Before joining Torus, Mr. Groth led Deloitte's U.S. Insurance Enterprise Risk Management practice advising companies on Solvency II-related issues and readiness.

Prior to Deloitte, he was managing director for Willis Group Ltd., responsible for its Enterprise Risk Management and Structured Risk Financing practices for North America. He also worked in a variety of capacities at the Liberty Mutual Group, ultimately achieving overall responsibility for its Bermuda operations.

"I am looking forward to building a risk management infrastructure that will optimize and protect Torus' earnings and capital and contribute to the growth of the group's economic value, as well as enhancing its reputation with key external constituencies," said Mr. Groth in a statement.

"This is a critical appointment and the result of a long and thorough search," Mr. Tobin added. "I am delighted that we have someone of Carl's caliber to establish a strong risk management framework and culture at an early stage of Torus' evolution."

Torus, which opened its doors for business in the summer of 2008, provides property, casualty and specialty insurance as well as reinsurance products to a global client base through its United Kingdom-, United States- and Bermuda-based insurance subsidiaries.