Torus Syndicate 2243 has acquired the renewal rights to CV Starr Syndicate 1919’s Continental European Marine, Casualty, Financial Lines and General Property business, effective 1 January 2012.
Starr Managing Agents will manage both Torus Syndicate 2243 and CV Starr Syndicate 1919.
The agreement will also see Starr’s Continental European based employees transfer to Torus Insurance Marketing, which is an authorised cover-holder on behalf of Syndicate 2243.
Starr Managing Agents will appoint Torus as cover-holder for Syndicate 1919 in respect of the transferring business lines, subject to regulatory approval.
Torus International CEO Dermot O’Donohoe said that this transaction brings to Torus a team of highly experienced underwriters who are specialists in their local markets, furthering the Torus ethos to offer local insurance solutions in each distinctive European market.
The transaction and Syndicate 2243’s business plan for 2012 has been approved by Lloyd’s.