Looking to round out its specialty business, Bermuda-based Torus Insurance Holdings Ltd. has entered into an agreement with Clal Insurance Enterprises Holdings Limited to acquire Lloyd’s Syndicate 1301 and its corporate members Broadgate Underwriting Limited and Broadgate Underwriting 2010 Limited.
Torus says acquiring the London-based syndicate will provide it with the ability to underwrite in Lloyd’s and write a wider portfolio of specialty business. Broadgate specializes in a range of niche short-tail business across several product lines, including accident and health, property direct and facultative, property treaty, specie, property schemes and bloodstock. Torus says it will retain Broadgate’s current team of underwriters, claims handlers and syndicate management under the direction of Active Underwriter Bob Katzaros.
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