DUAL, the underwriting arm of Hyperion Insurance Group, has announced the next phase of its structural strengthening following a strategic review.
Shane Doyle, Deputy CEO of DUAL International, will take on the new role of CEO of DUAL’s UK businesses, and will also become DUAL Group Chief Underwriting Officer (CUO), overseeing global consistency in the approach to risk appetite and selection. The appointment is subject to regulatory approval.
Russell Kilpatrick, in addition to his role as Chairman of DUAL UK, will take on the new role of Executive Director, Global Markets at DUAL International. He will be tasked with supporting DUAL’s specialist product and geographic expansion.
Both Doyle and Kilpatrick will continue to report to Damien Coates, CEO of DUAL International.
Paul Ferris, currently CUO of DUAL International, will take on the new role of Chief Risk Officer for the DUAL Group, responsible for overseeing Risk, Compliance, Claims and Underwriting Governance. He will continue to report to Shane Doyle.
Coates commented: “Our single-minded focus is on delivering strong underwriting profitability for our insurer partners and these appointments will ensure that our underwriting businesses are able to focus fully on delivering a return on capital to our insurer partners whilst we continue to research and develop our product and geographic capabilities at a Group level.
“DUAL’s UK operations are an important global hub for DUAL, and Shane’s UK and global experience will help deliver a superior underwriting business. Equally, since Shane joined DUAL in July 2012 his focus has been on increased governance and underwriting profitability, and his appointment as CUO supports our desire to be ‘best in market’ on compliance, governance and delivering the return on capital that our insurer partners expect from us.
“Russell has led the Group’s expansion into new products beyond our core Financial Lines capability, most recently with the formation of our specialty reinsurance and general liability businesses in the UK. He will work closely with me to further develop DUAL’s product capability, as well as looking at further geographic expansion for DUAL.”
Coates added that the “appointment of a Chief Risk Officer is an important step for DUAL. Taking a holistic approach to managing risk will be vital to our continued growth and success, and Paul’s experience and skills make him the ideal choice for this new role.”