UK-based Nexus Underwriting Management Limited announced that it has acquired Torus Insurance Holdings Limited entire holding in Torus Executive Risks Ltd (TER) with effect as of August 30, 2013.
Following the acquisition, Nexus, as the sole owner of TER, renamed and rebranded the entity as Nexus Executive Risks Limited (NER), indicating that the name change is part of its strategy to assure continual successful growth.
Nexus said it would “further develop its market leading offering in the provision of underwriting solutions for legal and operational risks in the Financial and Specialty Lines sector and NER will also underwrite on behalf of Partner Re Ireland Insurance Limited under the terms of the recent new deal with Nexus announced in June this year.
“All employees of TER will remain employed by NER and the other underwriting agreements managed by Nexus are unchanged.”
Source: Nexus Underwriting Management