Talbot Holdings announced a 23% increase in its gross written premium to $539m from $438m at its year end.

The Bermuda holding company, which uses Lloyd's market capacity, said it had seen growth across all lines of business.

Net earned premium rose 44% to $357m from $247m a year earlier, while total operating revenues increased 46% to $372m from $255m in 2003.

Profit before tax increased 62% to $31.9m from $19.8m.

In Syndicate 1183 a pre-tax profit of $61.6m was achieved, up from $46.6m in 2003. The syndicate's combined ratio rose by 1% to 84%.

For 2005, the capacity of Syndicate 1183 has been reduced to £282m from £287.5m.

In its subsidiary Underwriting Risk Services pre-tax profit increased by 85% to $1.9m, while turnover was up 47% at $6.1m.

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