Validus-owned Talbot Underwriting has opened operations in Singapore, representing the first presence in the Asia region for $1 billion Bermuda-based Validus.

Talbot Asia is being headed by Jeremy Austen as its chief executive officer designate.

It was in July of this year that specialty insurance group Talbot Underwriting was acquired by 2005-start-up Validus.

The launch of Talbot Asia is subject to the regulatory approval of The Monetary Authority of Singapore. It will operate out of Lloyd's Asia headquarters at One George Street, Singapore.

Mr. Austen is a former managing director of Arthur J. Gallagher Asia. Talbot Asia .

Talbot CEO Rupert Atkin, said: "This is a very exciting development for Talbot.

"Asia is a rapidly expanding marketplace and we have been looking for some time to see how best we can benefit from the opportunities there.

"Jeremy brings enormous experience within the Asian insurance market and I am sure he will help substantially grow our presence there from its small but ambitious early roots."

As he prepared to step into his new role, Mr. Austen, said: "Talbot Asia will be looking to recruit the best local underwriters and second others from within the Talbot Group to help us replicate the successful models of both Talbot and Validus, in Asia.

"To begin with we will be focusing on onshore and offshore energy, property, marine hull and cargo, and financial institutions lines, but as we expand we will look to write all classes currently written by Syndicate 1183."

Ed Noonan, chairman & CEO of Validus, which has offices in Par-La-Ville Road, said: "Talbot Asia represents a significant investment and commitment to our Talbot network. Whilst the Singapore operation is our first investment in this rapidly developing region, we will certainly be looking to develop the model elsewhere in Asia in due course."