Talbot and Markel's Joint D&O Binder Enables Lloyd’s Dubai to Offer USD $30 Million Capacity per Risk in MEA Region

LONDON--()--Talbot Underwriting Ltd. (“Talbot”), a wholly owned subsidiary of Validus Holdings, Ltd. (“Validus”), has joined forces with Markel International (“Markel”), the specialist insurer, to provide expertise and knowledge of the Middle East and Africa (MEA) marketplace via an increased level of D&O capacity in the region.

As two leading insurers of D&O risks in the Lloyd’s Dubai market, Talbot and Markel have extensive expertise writing D&O risks. As part of this facility, the binder will be able to provide capacity up to a maximum of USD $30 million per risk, offering an alternative to other markets in the region. Lloyd’s of London was the first market to introduce an insurance policy to protect directors and officers from claims in the wake of the Great Depression in the 1930s and the wording has since evolved to become the standard for many insurers.

Rajul Gohil, Regional Head of Financial Lines at Talbot Underwriting (MENA) Ltd., said: “This new facility can be accessed by any licensed broker or insurance company in the MEA market, including Turkey and India, and will play an important role in attracting more business to Lloyd’s Dubai. There is a growing demand for this product in the MEA region and we believe this offering will benefit any clients/cedants that require expertise and understanding of D&O exposures. For our clients, substantial additional capacity from insurers that really understand their needs, especially in the local marketplace, will undoubtedly be welcome.”

James Hastings, managing director of Markel’s professional and financial risks division, added: “We opened our office in the DIFC because, with the development of Lloyd’s in Dubai, we saw more business being placed locally and wanted to take advantage of that trend. Our partnership with Talbot now gives us opportunity to do that on D&O risks in the broad region serviced by the Dubai platform.”

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. Talbot Underwriting (MENA) Ltd. is a wholly owned subsidiary of Talbot Underwriting Ltd. and operates through Syndicate 1183. For more information please visit at www.validusholdings.com.

About Markel International

Markel International Limited is a subsidiary of Markel Corporation, a US-based holding company trading on the New York Stock Exchange (MKL). Markel International writes insurance and reinsurance business through eight divisions and through offices across the UK, Europe, Canada, Latin America and Asia Pacific. Markel International’s insuring entities include Syndicate 3000, Syndicate 1400, Markel Resseguradora do Brasil S.A. and Markel International Insurance Company Limited. For more information please visit at www.markelintl.com.


For Talbot media:
Brunswick Group
Dania Saidam, +44 (0)20 7404 5959
For Markel International media:
Markel International
Michael Henman, +44 (0)20 7953 6000
Director of Communications

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