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Enstar, Stone Point complete Torus Insurance acquisition


Enstar Group Ltd. and Stone Point Capital L.L.C. have completed their acquisition of London-based Torus Insurance Holdings Ltd. and have appointed two new members to Torus’ board.

Patrick Tiernan has been appointed executive director and chief financial officer-elect of Torus, and Walker Rainey has been named nonexecutive director of Torus, Hamilton, Bermuda-based Enstar and Greenwich, Conn.-based Stone Point announced in a statement Tuesday.

Mr. Tiernan will succeed Tim Harris as chief financial officer in May and most recently was CEO of Zurich Insurance Group Ltd.’s centrally managed businesses, according to the statement.

Mr. Rainey is joining Torus from Alterra Capital Europe Ltd., where he was the managing director, the statement said.

Mr. Rainey is based in Dublin, and Mr. Tiernan is based in London.