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Daily Insurance Industry News
Saturday 20th of January 2018
July 1, 2010

Torus takes over Glacier Insurance AG

by Richard Kilner

Story link: Torus takes over Glacier Insurance AG

Torus has today completed its acquisition of Glacier Insurance AG from Glacier Group.

Glacier Insurance AG, to be renamed Torus Insurance (Europe) AG, is a specialty insurer with headquarters in Liechtenstein and branches in Zurich, Cologne and London.

It boasts a well-established specialty portfolio of aviation, space, property, energy, war and terrorism and marine risks, and its underwriting and operational staff will all migrate to Torus as part of the deal.

Customers and brokers will benefit from the acquisition, originally announced on 4 May, with enhanced products and capacity which will fuel Torus’ strategic growth plans.

The acquisition follows Torus recently establishing new European offices, in Amsterdam and Paris.

Glacier Insurance AG Chief Executive Richard Etridge is to join Torus as chief operating officer of Continental Europe, and global head of Aviation.

 

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