LONDON--(BUSINESS WIRE)--Talbot Underwriting Ltd. (“Talbot”), a wholly owned subsidiary of Validus Holdings, Ltd. (“Validus”), today announced the successful launch of three enhanced Lloyd’s led terror Facilities in the Singapore, Latin American and Dubai markets.
In response to the increasing demand for this distinctive coverage, these Facilities offer a full range of political violence perils, including war coverage.
The Facilities are led by Talbot with capacity provided by Sompo Canopius for the Singapore Facility and by Sompo Canopius, Navigators and Neon for the Latin American and Dubai Facilities. The Facilities will write terror risk of up to $150 million on any one risk in Singapore and $175 million on any one risk in both Latin America and Dubai.
Steven Tebbutt, Global Practice Leader for Political Violence at Talbot, said: “The threat of terror is an ever increasing issue our clients face today." He added, “In response to the increasing demand, these facilities have been tailored with broader cover and increased capacity to enable us to provide solutions and enhanced limits to our clients.”
Talbot also recently announced the successful launch of the only Lloyd’s led consortium for nuclear, biological, chemical and radiological (NBCR) terrorism.
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. ("Validus") is a holding company for reinsurance and insurance operating companies and investment advisors including Validus Reinsurance, Ltd. (“Validus Re”), Talbot Underwriting Ltd. (“Talbot”), Western World Insurance Group, Inc. (“Western World”) and AlphaCat Managers, Ltd. (“AlphaCat”).
Validus Re is a Bermuda based reinsurer focused on treaty reinsurance. Talbot is a 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 Validus in insurance linked securities and other property catastrophe and specialty reinsurance investments.