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Torus lures XL London head

Dermot O'Donohoe is set to join Torus on 1 September after resigning as chief underwriting officer of XL Insurance's global specialty operations and CEO of its London market operations, The Insurance Insider can reveal.

After 18 years at the global insurer, O'Donohoe will re-emerge at the fast-expanding Bermuda and London start-up Torus, which is headed by his former XL Insurance colleague, Clive Tobin.

A well known London market figure, O'Donohoe was appointed to the Council of Lloyd's in February 2007 - a position he has also resigned from following his decision to step down from XL.

O'Donohoe's position as chief underwriting officer of XL's global specialty unit saw him lead the strategy for aerospace, environmental, equine, marine and offshore energy, and program business at the global specialty insurer.

O'Donohoe joined XL Europe Ltd in 1991 as a D&O/professional lines underwriter and progressed to president and CEO of XL Europe and chief executive of XL Insurance in December 2002.

In 2004, he additionally took on the role of CEO of XL's Lloyd's managing agency XL London market, assuming the position of active underwriter of its syndicate in 2006 - which has planned capacity for the 2009 year of account of £230mn. O'Donohoe also took on the role of chief underwriting officer of specialty lines in January 2006.

XL confirmed the resignation last week, adding that an existing succession plan had been implemented and that an announcement of O'Donohoe's replacement would be made in due course.

A Lloyd's spokesperson said: "Mr O'Donohoe has resigned from the Council of Lloyd's."

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