Talbot Underwriting will open a Sydney office in January, writing business from its Lloyd’s syndicate.

Sydney-based Adam Matteson, who established Arch Insurance in Australia, has left Arch to lead the new company.

Talbot is a subsidiary of Bermuda-based Validus Holdings and already operates in the region through its Singapore office.

Mr Matteson told insuranceNEWS.com.au this morning that opening in Australia “will bring the service closer to local clients”.

Talbot manages Lloyd’s Syndicate 1183 and focuses on specialty risks such as marine, aviation, energy, terrorism, political risk, construction and financial institutions.

It also writes property and treaty reinsurance and has capacity of £625 million ($1.12 billion) for the 2014 underwriting year.

“It is a market-leading syndicate in many products, and the product suite will be replicated in Australia,” Mr Matteson said.

“But it is not just about product, it’s also about distribution. With the mergers and acquisitions in the agency space in particular, and in the retail space, there is a role for Lloyd’s capacity.”

Talbot will open for business on January 28.

More details in our regular bulletin on Monday.