New UK energy insurer Torus is set to take over an excess and surplus lines insurer within QBE subsidiary Praetorian.

Torus last week announced it has entered into a definitive agreement to acquire the Praetorian Specialty Insurance Company.

Praetorian, a member company of QBE the Americas, was acquired by QBE in June last year.

Ratings agency AM Best has placed Praetorian Specialty’s rating of A- under review with negative implications.