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Torus beefs up European operations

Torus has built on it efforts to expand in Europe, with the appointment of Thomas Guesde as senior vice-president of its new European Casualty platform.

The Bermuda-based global specialty insurer said yesterday that Mr. Guesde would be based in the company's Amsterdam office, pending the opening of a Paris office later this year.

Since starting out in June 2008 with around $720 million in initial capital from private-equity firm First Reserve Corporation, Torus has expended at a healthy pace first into the US and now into Europe.

Mr. Guesde will report to David Perez, Torus's president and chief underwriting officer, Global Casualty.

"The establishment of an underwriting operation in Europe is designed to enhance the global footprint of Torus Casualty, entertain opportunities accessible only through a local presence and assist in the diversification of our overall portfolio by responding to the specific needs of our customers in Continental Europe," Mr. Perez said. "Having Thomas on our team is a significant step in the execution of this strategy."

With limits of up to 25 million euros the new platform is available on both a primary and excess basis with the capacity to write most classes, from large, global, complex risks to European middle market business. Most policy forms can be followed in several European languages.

Mr. Guesde was formerly director of GAN Eurocourtage's Casualty Underwriting and International Departments. He has 17 years of highly technical casualty underwriting and customer management experience.