Hamilton Insurance Group is bringing in the former head of Torus Insurance Holdings Ltd.’s international operations to lead development of its Lloyd’s business, which will also be renamed.
Dermot O’Donohoe will be CEO of Sportscover Underwriting Ltd., the managing agency of Syndicate 3334, one he wins approval from Lloyd’s, the Prudential Regulation Authority and the Financial Conduct Authority. Once those and other sign-offs are in place, Hamilton plans to rename Sportscover as Hamilton Underwriting Ltd, the company said.
Hamilton CEO Brian Duperreault commented in prepared remarks that O’Donohoe is “a superb underwriter with more than 30 years’ experience in the United Kingdom and Europe.”
Beyond Torus, O’Donohoe also served in various executive positions at XL Group.
Hamilton announced in November that it sealed a deal with Australia’s Wild Goose Holdings to buy Sportscover and also Kinetic Insurance Brokers Ltd., a Lloyd’s insurance broker.
Enstar Group Ltd. and Stone Point Capital LLC completed the acquisition of Torus on April 1, after which Dermot stepped down as Torus Group CEO.
Source: Hamilton Insurance Group