Talisman was formed to trade as a member of Lloyd's from 1st January 1998 and provides shareholders with a way of participating at Lloyd's, with limited liability, whilst duplicating some of the benefits of personal membership.
Involvement in Talisman is either by way of an "A" share subscribed for in cash or a "Unit" comprising a "B" share and unpaid loan stock which is supported by a bank guarantee or other suitable collateral. The "Unit" provides the "double use of assets" as the shareholder continues to benefit from the income and gains of the collateral supporting the guarantee together with the profits of Talisman.
Substantially all the trading profits for each year of account are paid out as dividends.
The transfer of risk is the basis of all insurance and something Lloyd's has been doing for over 325 years.
Lloyd's is composed of over 89 syndicates accepting risks and Talisman provides capital to 14 of them, in varying amounts, thus sharing directly in their profits or losses.
Syndicates differ in the type of business they write and the level of risk they accept.
Talisman allocates its capital with the intention of exceeding the Lloyd's market average performance whilst maintaining a balanced level of risk through a diverse underwriting portfolio.
List of top ten syndicates supported for 2020
|MANAGING AGENT||SYNDICATE||CAPACITY £||PERCENT %|
|Hiscox Syndicates Limited||33||5,772,859||19.90|
|Tokio Marine Kiln Syndicates Limited||510||5,511,435||19.00|
|Atrium Underwriters Limited||609||3,405,533||11.74|
|Beazley Furlonge Limited||623||3,058,412||10.54|
|Managing Agency Partners Limited||2791||2,137,668||7.37|
|QBE Underwriting Limited||386||1,739,343||6.00|
|Argenta Syndicate Management Ltd||2121||1,610,745||5.55|
|Asta Managing Agency Limited||5886||1,392,631||4.80|
|Lancashire Syndicates Limited||2010||1,251,706||4.32|
|Canopius Managing Agents Limited||4444||1,061,118||3.66|