Middle East - Talbot and Markel join forces in D&O
Source: Middle East Insurance Review | May 2016
Talbot Underwriting, a wholly owned subsidiary of Validus Holdings, has joined forces with specialist insurer Markel International to increase D&O capacity in the Middle East and Africa (MEA) marketplace.
As part of this facility, the binder will be able to provide capacity up to a maximum of US$30 million per risk, offering an alternative to other markets 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.
Mr Rajul Gohil, Regional Head of Financial Lines at Talbot Underwriting (MENA), 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.”
Mr 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.”