Talbot Asia announces Jeremy Austen as CEO of new venture
Talbot Underwriting, the Validus-owned specialty insurer, today announced the establishment of its first Asian-based venture, Talbot Asia.
The launch of Talbot Asia, which will be based in Singapore subject to the regulatory approval of The Monetary Authority of Singapore, will be headed by CEO designate Jeremy Austen, former Managing Director of Arthur J. Gallagher Asia Pte Ltd.
Talbot Asia will operate out of Lloyd's Asia headquarters in Singapore at One George Street.
Talbot CEO Rupert Atkin said: “This is a very exciting development for Talbot. Asia is a rapidly expanding marketplace and we have been looking for some time to see how best we can benefit from the opportunities there. Jeremy brings enormous experience within the Asian insurance market and I am sure he will help substantially grow our presence there from its small but ambitious early roots.”
Jeremy Austen, Talbot Asia CEO said: “Talbot Asia will be looking to recruit the best local underwriters and second others from within the Talbot Group to help us replicate the successful models of both Talbot and Validus, in Asia. To begin with we will be focusing on onshore and offshore energy, property, marine hull and cargo, and financial institutions lines, but as we expand we will look to write all classes currently written by Syndicate 1183."
Ed Noonan, Chairman & CEO of Validus, said: “Talbot Asia represents a significant investment and commitment to our Talbot network. Whilst the Singapore operation is our first investment in this rapidly developing region, we will certainly be looking to develop the model elsewhere in Asia in due course.”
