|Copyright:||A.M. Best Company, Inc.|
Torus Executive Risks Ltd., a joint venture between Nexus Underwriting Management and global specialty insurer Torus, entered the professional lines market with the appointment of David Robinson as professional indemnity manager.
Robinson joins Torus Executive Risks from Mitsui Sumitomo Insurance Group's Lloyd's Syndicate 3210, a professional indemnity insurer, where he was class underwriter for professional liabilities. He has more than 20 years of professional indemnity experience, said Torus. He had also worked at DA Constable Syndicate 386 and BP Theakston Syndicate 1101.
"David is a recognized market leader," said Colin Thompson, chief executive of Torus Executive Risks, in a statement. "His hiring marks our entry into the professional indemnity market and complements our stated strategy of attracting the top performers into our respective product areas to provide the products and services our policyholders and brokers need."
"Brokers and policyholders have suffered a significant dislocation in the PI market," said Robinson in a statement. Torus Executive Risks' "entry counteracts this. There are both short-term and longer-term opportunities to establishing a strong new direction for the PI market. Leveraging the success to date, Torus Executive Risks’ PI platform aims to be recognized as the market's new point of reference."
(By David Pilla, international editor, BestWeek: [email protected])