Enstar Group Ltd. will acquire specialty insurer Torus Insurance Holdings Ltd. in a combination cash and equity transaction worth $692 million.
At the same time, Torus named Dermot O'Donohoe as its new CEO, replacing Clive Tobin who is retiring.
Torus, founded in 2008, is a global specialty insurer employing over 500 people in 14 offices worldwide. It is a holding company for six insurance vehicles, including Lloyd's Syndicate 1301.
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