Torus Insurance, a private equity-backed holding company, has agreed to be acquired by Enstar Group (NASDAQ: ESGR) and Stone Point Capital for $692 million. Sellers include First Reserve and Corsair Capital. Enstar will pay about $69 million cash and issue approximately $346 million of stock toward the purchase price; Stone Point will fund the remaining $277 million through an equity co-investment. Enstar will own 60% of the company upon closing and Stone Point will own the remaining 40%. Torus is the holding company of six wholly-owned insurance vehicles, including one Lloyd's syndicate.