Talbot to close Australia and Lloyd's China offices

Talbot Underwriting, a subsidiary of AIG (previously Bermuda-based Validus Holdings) is to close its office in Australia and its division in Lloyd's China.

The company will renew business currently written by these two offices through Singapore and London branches.

Talbot said that it is combining its regional underwriting capabilities into a single hub based in Singapore, allowing it to better serve clients in the region.

David Morris, CEO of Talbot Underwriting, said: “With the support of our brokers and clients, our offices have built strong relationships and significant regional expertise in writing insurance and reinsurance.

"These changes to our structure will allow us to serve our clients more efficiently and bring enhanced value to all our partners in the region.”