Montpelier Acquires Renewal Rights to Torus' Property Catastrophe Reinsurance Business

Torus today announced that it has reached an agreement with Montpelier Reinsurance Ltd., the Bermuda reinsurance subsidiary of Montpelier Re Holdings Ltd.

, (“Montpelier”), a provider of short-tail reinsurance and other specialty lines, to sell the renewal rights of its property catastrophe reinsurance book of business with immediate effect. Under the agreement Torus will also provide sidecar capacity to Montpelier, effective January 1, 2012.