Enstar and Stone Point complete acquisition of Torus

Enstar Group and Stone Point Capital have completed their acquisition of Torus Insurance Holdings, in the largest such transaction undertaken by Enstar.

The acquisition comprises all six of Torus’ business units, with Enstar indicating that it intends to “ensure a seamless transition for Torus' client and broker partners worldwide” as the company increases its involvement in live underwriting.

Patrick Tiernan has been appointed as executive director and CFO within Torus’s newly-acquired team, and Walker Rainey has been made non-executive director.

Commenting on the deal Stone Point’s CEO, Charles Davis says: "Stone Point has had a long and successful partnership with Enstar and its senior management team. Following on the recent acquisitions by Enstar and the Trident V funds of Atrium Underwriting Group and Arden Reinsurance Company, we again are excited to partner with Enstar in an active underwriting business."

Dermot O’Donohoe, Torus’s CEO describes the acquisition as a “very positive development for Torus.  Enstar and Stone Point are long-term, best-in-class investors in the insurance industry and bring extensive expertise to Torus.  We look forward to a strong and successful future.

The deal brings Enstar once again into active underwriting, and away from its traditional focus as a run-off acquirer. The company bought Atrium Underwriting Group and Arden Reinsurance in 2013 and is evidently looking to build on that success.