01 February 2010
Published in: Risk governance
Torus appoints group CRO
Torus, the global specialty insurer, has appointed Carl Groth as group chief risk officer with immediate effect. Based in New Jersey and reporting to chief executive Clive Tobin, Groth, the company said, will drive the development of a comprehensive and integrated enterprise risk management programme for the group worldwide.
He will also be a member of the executive management team.
Previously, risk management was run by the head of compliance, Rob Mankiewitz, but the growth of the company since its launch in June 2008 by private-equity firm First Reserve Corporation and some senior insurance practitioners has apparently necessitated a more comprehensive approach to risk.
Tobin said Groth's appointment was the result of a long and thorough search. "I am delighted that we have someone of Carl's calibre to establish a strong risk management framework and culture at an early stage of Torus' evolution," he added.
Before joining Torus, Groth led Deloitte's US insurance ERM practice advising companies on Solvency II issues. Previously, he was managing director for Willis Group, responsible for its ERM and structured risk financing practices for North America. An economics graduate and MBA, Groth has also worked in a variety of capacities at the Liberty Mutual Group.