15 May 2014News

Senior Torus resignation causes major Enstar reshuffle

The CEO of Torus, Dermot O’Donohoe, has resigned just six weeks after the specialty insurer was acquired by Enstar, forcing a reshuffle of senior management:

O'Donohoe says: "At Torus I've been privileged to work with a group of very talented people. I'm proud of our success in growing the Torus franchise. This would not have been possible without the dedication of Torus employees, and I wish everyone success. As part of Enstar, and in partnership with Stone Point, Torus is on a strong path forward."

Nick Packer, Enstar’s joint chief operation officer (COO), succeeds O’Donohoe as Torus CEO and chairman.

David Atkins will take Packers’ place at Enstar as global head of claims. He has served as COO of Enstar (EU) since 2010 and has been with the company since 2003, serving in various senior leadership roles in Enstar's European operations.

John Shetlle, the current interim CEO of Torus’ US operations, has been appointed as vice chairman of Torus. He has more than 30 years of experience in the insurance industry.

Demian Smith has been appointed CEO of Torus’ international business segment, which includes Torus' Lloyd's, London market and continental European operations. Smith has been with Torus since 2010, having joined the company as global head of Torus' marine business. In addition to this role, he also serves as chairman of Torus' Group underwriting committee.

David Message has been appointed chief underwriting officer of Torus' international business segment, having been with Torus since 2009. He is global head of Torus' property and energy business and chief underwriting officer of Torus Insurance (UK).

Patrick Tiernan has been appointed Torus Group COO. He has 16 years of experience in the insurance industry, spending the last 10 years at Zurich Insurance where he most recently served as CEO of Zurich's centrally managed businesses.

Finally, Gareth Nokes has been appointed Torus Group CFO, succeeding Tim Harris. Nokes has served as senior vice president of group finance at Enstar since 2012, and also served as CFO of Enstar's European business since 2006.

Packer says, "At its core, Torus is an attractive, exciting and well-positioned underwriting business, and there is a lot of talent and energy within the company. I look forward to leading the new executive team at Torus. We are confident that the underlying strength of the business and the initiatives we have in place will enable Torus to achieve long-term financial strength and success.