Broadgate specialises 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.

Subject to approval by Lloyd's, the acquisition will enable Torus to write specialty business in Lloyd’s effective January 1, 2012.

Torus will retain Broadgate’s current team of underwriters, claims handlers and syndicate management under the direction of Active Underwriter, Bob Katzaros.

“The Broadgate team is highly experienced and we see excellent opportunities to link their products and distribution with Torus’ current product offerings in the US and Europe. There is a strong strategic and cultural fit and we look forward to working with the team to further client and market relationships,” said Mr Tobin.

Willis Argentina gets new CEO

Willis has appointed Seth Peller as CEO of Willis Argentina with immediate effect.

Mr Peller was previously the group’s regional placement officer for Latin America, having joined the broker in 1992.

In his new role Mr Peller will be based in the company’s Buenos Aires office and will lead a team of 120 employees.

Mr Peller has held further roles at Willis. Notably as executive director in Willis’ North American Casualty business in London where he worked for 12 years on insurance programme design and placement of excess casualty risks for a large cross-section of US industry.

He started his career in Willis’ North American Casualty Claims department before broking professional risks.

Willis International chairman Sarah Turvill said, “Seth’s appointment comes at a time of considerable growth in our Argentinean business in areas like employee benefits, agriculture and affinity. We are confident that his knowledge of the group’s global expertise in these and all other major commercial sectors will be crucial in driving our service offering for Argentinean companies who want world-class risk management for local projects.”

Willis established a presence in Argentina in 1999 through a joint venture with Herzfeld & Levy, a national insurance broker, which became Herzfeld Willis.

It also set up a reinsurance brokerage, Willis S.A, with two private investors. In September 2009, Willis acquired 100 percent of the share capital of Herzfeld Willis and Willis S.A to form Willis Argentina S.A.

Consortium announce acquisition of Whittington UK from the Whittington Group

A consortium comprised of Tawa Plc, Skuld and Paraline Group, Ltd has announced an agreement to acquire Whittington Insurance Markets Ltd, the London-market operations of Whittington Group and Lloyd’s leading provider of full, turnkey agency management services.

The transaction is subject to the approvals of Lloyd’s and the FSA and is expected to close within approximately 90 days.

Stephen Cane, Chief Executive Officer of Whittington, welcomed the move. “We are extremely pleased with the acquisition by the consortium and also with the opportunity to participate in the ownership of our company. We look forward to continuing to provide highest quality management services to our clients and maintaining the trust of Lloyd’s as a third party syndicate manager providing turnkey and incubation services for new syndicates. Each of the partners will provide strength and stability to our business. With the support of our new ownership group, we will also now have the ability to provide capital to selected new entrants to Lloyd’s.”

Gilles Erulin, Chief Executive Officer of Tawa Plc, said the transaction provides a platform through which to expand its range of services to the Lloyd’s community.

“Whittington is the leading franchise in the Lloyd’s agency management market and provides us with real scale as a provider of live insurance services. This is highly complementary with the range of consulting and outsourcing services currently provided through Pro, and we look forward to developing these businesses in tandem with one another,” he said.

Bruce Schnitzer, Chief Executive Officer of Paraline, said his company are always interested in partnering with high quality management teams and other compatible firms.

Adding that ‘Whittington has a ‘distinguished history and is well respected in the Lloyd's community. Its expertise will be of value to Paraline's Syndicate 4242 as we grow and develop additional underwriting classes’.

Skuld’s Chief Executive Officer Douglas Jacobsohn added: “Our plan in establishing Syndicate 1897 last year included the creation of our own managing agency as soon as practicably possible. This acquisition allows us to move that timetable forward on a cost efficient basis. We are committed to continuing to expand our involvement in the London market and beyond, as an extension of our heritage as the world’s leading P&I Mutual Club. We are always looking for new ways in which we can provide first-class service, and this arrangement enables us to continue to do that across a wider platform.”

XL expands in UK mid-market

XL Insurance is looking to expand into the UK mid-market sector with the creation of a new team writing business on its own paper to complement its operation launched in 2008 that writes business through XL Insurance’s Lloyd’s platform. The new arm will target companies with a turnover of between £25m and £250m that do business, or are looking to expand, abroad.

According to XL, as many UK regional companies with a turnover of this size export and expand abroad they face new risks in markets with different legal and compliance systems.

To respond to these needs and provide the benefit of packaged solutions that combine different risk coverages efficiently, the new Middle Market team will provide access to both local expertise and to XL Insurance’s global network to provide international coverage if required, said the insurer.

The new team sees the appointment of Chris Oatten as Senior Property Underwriter for Middle Markets and Julie Knight as Senior Casualty Underwriter for Middle Markets.

Mr Oatten has over 20 years of experience in both underwriting and relationship management and joins XL Insurance from AXA. He will focus on developing the Middle Market Property book across a variety of trades, utilising both existing and new broker relationships.

Miss Knight has a strong background in global casualty with over 20 years’ extensive underwriting experience in the London Market. She has spent the last ten years with Zurich, where she managed their Global Casualty Accounts.

Since the launch of its UK Middle Market operations in 2008, XL Insurance has opened dedicated offices in Newcastle, Birmingham and Dublin.

Denis Burniston, Chief Underwriting Officer UK Middle Markets, said: “I am delighted to welcome both Chris and Julie to our Middle Market team. Their appointments will allow us to provide property and casualty solutions to a new client segment and continue our business growth in this area. Their in-depth underwriting experience will allow us to meet the specific needs of clients and brokers in this interesting segment.”

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