Talbot gives vote of confidence to marine classes.

(From Lloyds List)

TALBOT, a specialty insurance group operating at Lloyd's, has given a vote of confidence to the marine classes, writes James Brewer.

The company plans to write total gross premium income of GBP275m ($519m) in 2005, compared with GBP280m in 2004, typical of the modest reductions that its competitors have effected.

For 2005, Talbot plans to continue to write more than 50% of its premium income in the marine sector, including hull, cargo, energy, marine and energy liability, yachts, marinas, political risks, war and terrorism.

The remaining income is planned for the direct property, financial institutions, contingency and treaty classes. Talbot is a prominent leader at Lloyd's in all these classes.

The group has increased the capital supporting its syndicate 1183 to $260m for the 2005 year of account, compared with $205m in 2004.

Capital for syndicate 1183 capital is provided by a single corporate member owned by the group, which in turn has entered into reinsurance and capital provision arrangements with Talbot group companies, third party reinsurance companies and financial ...