Talbot Underwriting has opened for business in Australia after receiving regulatory approvals last week.

MD of the Sydney-based office, Adam Matteson, says Talbot already writes business here from its Lloyd’s Syndicate 1183, operating from the Singapore platform, but it wants to be closer to Australian clients.

“We are focused on selecting the right area of distribution for the products,” he told insuranceNEWS.com.au this morning from the Steadfast Convention, which he is attending with Syndicate 1183 Director of Underwriting James Skinner.

Talbot has wholesale and retail offerings, and the syndicate focuses on specialty areas such as political risk, energy, product recall, marine and aviation.

Mr Matteson says many of the products are sold rather than bought, and he is working with brokers and underwriters on developing business such as product recall, where the risk of loss is growing.

“We see increased opportunities in the Australian market and look forward to growing our footprint to better serve clients in the region,” he said.