21 March 2014 Insurance

Talbot posts record results; forecasts growth

Talbot Underwriting’s Syndicate 1183 posted a record profit in its 2013 results while its chief executive promised a year of international expansion for business, which is a subsidiary of Validus Holdings.

Syndicate 1183 made a profit of £104.8 million last year compared with £61.8 million in 2012, an increase of 69.6 percent. Its gross written premiums also increased by 2 percent at constant exchange rates to 698.3 million. Its combined ratio fell to an impressive 80.6 percent compared with 91 percent in 2012.

“Talbot produced extraordinary results in 2013, with a record profit of £104.8m and a combined ratio of 80.6%. Given the increasingly competitive marketplace, we are delighted with this result,” said Rupert Atkin, the chief executive of Talbot Underwriting.

“For 2014 we continue to see strong global growth and are anticipating an increased demand in international markets. As such, we will look to expand across multiple jurisdictions, building on the success of our operations outside of London, as well as working with our London brokers to strengthen our relationships and support their clients.”

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk