Talbot to Lead $115 million Political Risk Insurance Binder in New York
August 02 2016 - 4:16PM
Business Wire
Talbot Underwriting Services (US) Ltd., a wholly owned
subsidiary of Validus Holdings, Ltd. (“Validus”), is pleased to
announce the launch of a Political Risk Insurance binding authority
from its New York office, underwritten 100% by various underwriters
at Lloyd’s and led by Talbot Underwriting Ltd, Syndicate 1183.
The Talbot-led binding authority includes syndicates managed by
Ascot, Sompo Canopius, CNA Hardy, and Starstone, all organisations
with expertise in writing political risks. With $115 million in
capacity, it will provide brokers and clients in the Americas with
a one-stop shop to access Political Risk Insurance capacity in the
Lloyd’s market.
The combination of these syndicates’ expertise in Political Risk
Insurance, together with the significant capacity available, will
differentiate the facility and enable it to offer a high level of
Lloyd’s Political Risk Insurance capacity in the Americas. The
facility can only be accessed via appropriately licenced
brokers.
James Bamford, Head of War, Terrorism and Political Risk at
Talbot, said: “This facility will play an important role in
attracting more political risk insurance business to Lloyd's and
provide us with the underwriting capacity to lead the largest
projects. For our brokers and clients, substantial additional
capacity from insurers that really understand their needs will
undoubtedly be welcome.”
About Talbot Underwriting Services (US) Ltd.
Talbot Underwriting Services (US) Ltd is a licensed New York
excess lines broker and an approved Lloyd’s coverholder. Our core
market is USA domiciled companies, including global operations. We
have attracted an experienced team of proven leaders within our
chosen market sectors.
About Talbot Underwriting Ltd.
Talbot Underwriting Ltd operates within the Lloyd’s insurance
market through Syndicate 1183. Syndicate 1183 focuses on
underwriting a number of specialty risks including marine,
aviation, transport, energy, terrorism, political risk, accident
and health, construction, contingency, financial institutions,
property and treaty reinsurance. Syndicate 1183 has capacity of
£600 million for the 2016 underwriting year of account.
About Validus Holdings, Ltd.
Validus Holdings, Ltd. is a holding company for reinsurance and
insurance operating companies and investment advisors including
Validus Reinsurance, Ltd. (“Validus Re”), Talbot Holdings Ltd.
(“Talbot”), Western World Insurance Group, Inc. (“Western World”)
and AlphaCat Managers, Ltd. (“AlphaCat”).
Validus Re is a Bermuda based reinsurer focused on short tail
lines of reinsurance. Talbot is the Bermuda parent of the specialty
insurance group primarily operating within the Lloyd's insurance
market through Syndicate 1183. Western World is a U.S. specialty
lines insurance company focused on excess and surplus lines.
AlphaCat is a Bermuda based investment adviser managing capital for
third parties and the Group in insurance linked securities and
other property catastrophe reinsurance investments.
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version on businesswire.com: http://www.businesswire.com/news/home/20160802006900/en/
Media:Brunswick GroupDania Saidam+44 20 7404
5959Validus@brunswickgroup.com
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