Talbot Underwriting Ltd has completed raising $120 million (£85 million) in capital support for its 2002 underwriting at Lloyd's.
This enables its Syndicate 1183 to write premium income of £180 million for the 2002 year of account, after taking account of quota share support.
These sums exceed the targets set when the company was founded in November 2001 by the former Alleghany Underwriting management team.
Its investors include Intermediate Capital Group PLC, Reservoir Capital Group LLC and a number of leading reinsurance groups.
Chief Executive Michael Carpenter is delighted as they have exceeded expectations. "It is especially pleasing to be one of the first Lloyd's companies to have attracted new investors into the Lloyd's market in 2002," he said.
