TMK bolsters aerospace with AIG’s Talbot

By Michael Jones

Feb 17 - (The Insurer) - Tokio Marine Kiln has strengthened its aerospace unit with the appointment of Paul Talbot as aviation underwriter.

TMK said Talbot will focus on the further expansion of its aerospace unit.

Talbot joins from a 12-year stint at AIG, latterly as head of airports and manufacturers. This followed seven years at Hayward Aviation.

His hire has continued a flurry of senior underwriting people moves in the aviation market.

These included Beazley’s appointment of Marsh’s Sebastian Lotz as aviation underwriter for the DACH region, and Scor P&C’s hire of AIG’s Arta Nasradini as head of aviation.

TMK also said it is now the largest writer of aviation risks in the Lloyd’s market by gross written premium.

TMK Syndicate 510’s 2023 full-year accounts show it wrote $159.9 million in GWP in the full year, which was an increase of 40.69% on the prior year’s $117.2 million.

In 2023, TMK 510’s aviation division reported a loss of $33.8 million. It said the underwriting loss reflected provisions for potential exposures from the Ukraine war, as well as losses from the Sudan conflict and adverse development on the closed years within the excess liability account.