Bermuda-based Torus Insurance Holdings Ltd. has appointed Tim Mardon as the new president and chief underwriting officer of its reinsurance business Torus Re.

Mr. Mardon, who was previously with Citadel's reinsurance operations, will report directly to Clive Tobin, chief executive of Torus.

Prior to joining Torus, Mr. Mardon, who has 22 years experience in the insurance industry, was chief underwriting officer of Citadel's reinsurance segment (CIG Re and New Castle Re).

He joined Torus in early 2009 as part of a deal which involved Torus acquiring the staff of New Castle Re.

Mr. Mardon started his career in London, where he worked as a pricing actuary for Zurich Re and Terra Nova, before moving to Bermuda in 1996 to work for Ace Tempest Re in property cat and specialty underwriting.

Mr. Mardon said: "We will continue our previous trajectory by expanding our existing property catastrophe portfolio, and leverage our position within the Torus family to target international cat and retrocessional business emanating from London and European markets.

"The Bermuda platform will diversify to incorporate casualty and other specialty reinsurance lines as well as structured solutions."

Mr. Tobin said: "Establishing a specialty reinsurer is a key part of Torus' strategic plan and Tim and his team are already making an important contribution to our performance.

"In addition Jon Sullivan, who will report to Tim and head up our international reinsurance book, will be moving to London in August to expand our international presence."