Hamilton, Bermuda-based reinsurer Validus Holdings, Ltd. has completed its acquisition of Talbot Holdings, Ltd.

Validus said Talbot will be the company's principal operation in the direct insurance market and primary point of access to the London market.

Talbot is the Bermudian parent of the specialty insurance group operating within the Lloyd's insurance market. The business will continue to trade in the Lloyd's market through both Syndicate 1183 and Underwriting Risk Services Ltd. The syndicate has capacity of ?325 million, or $654 million.

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