The T(0,1) torsional guided wave is widely employed in pipe defect detection due to its non-dispersive characteristic. This paper presents a novel insertable torsional guided wave electromagnetic acoustic transducer, offering advantages of non-contact operation, simple structure, and high signal-to-noise ratio. The transducer primarily comprises arc-shaped coils, race-track shaped permanent magnets, and a support skeleton, generating torsional guided waves in the pipe based on the Wiedemann effect. Numerical simulations were first conducted to model the transducer′s axial dynamic magnetic field and circumferential static bias magnetic field, verifying the feasibility of torsional wave generation and investigating the influence of pipe bend radius on torsional wave propagation. Subsequently, utilizing the proposed T(0,1) torsional guided wave transducer combined with frequency-wavenumber analysis method, high-sensitivity detection of axial cracks in bent pipes and pitting defects in straight pipes was achieved. Experimental verification demonstrates that the transducer can effectively detect axial cracks 3 mm in length within bent pipes and pitting defects 0.4 mm in diameter within straight pipes at an excitation frequency of 0.32 MHz.