Bains to Step Down as CEO of DUAL; Firm to Be Led by Regional Mgmt Board

November 7, 2016

Hyperion Insurance Group, the London-based insurance intermediary group, announced that Talbir Bains, CEO and CUO of DUAL Group, the underwriting arm of Hyperion, has decided to step down from his role at the end of January 2017.

Bains joined DUAL in March 2015 and embarked on a series of focused enhancements across central underwriting and operations, and in parallel formed a new executive team in London and re-emphasizing DUAL’s strategic focus and market position with small and medium-sized enterprises (SMEs) and specialist business.

With Bains having finalized DUAL’s regional structure, following Richard Clapham’s appointment as CEO, UK and Europe, in September 2016, the regional management board will now lead DUAL, said the company in a statement.

It comprises the heads of the regional hubs, being Richard Clapham (Europe), Justin Tweedie (US), and Damien Coates (Asia Pacific), together with Mark Hudson (CFO), Stephen Manning (COO) and Paul Ferris (head of Capacity Management). Additionally, Richard Clapham will take on the role of group chief underwriting officer. The board will continue to be chaired by Clem Booth as non-executive chairman, with non-executive directors Ralph Snedden, David Ibeson and Luis Munoz-Rojas.

David Howden, CEO of Hyperion, said: “The last 12 months have been formative ones for DUAL. Our primary objective has always been to deliver profitable returns to our carriers by focusing on high quality underwriting and operational excellence in order to provide the very best service to capacity providers, brokers and clients.

Bains has implemented and embedded “a transformative program of strong portfolio management and operating platform development while finalizing our regional structure and adding significant underwriting and operational bench strength,” Howden continued.

“As we approach $1 billion in premiums, this regional structure is more relevant to our carriers, brokers and clients, and therefore to the next stage of the journey,” he said.

“My thanks go to Talbir for agreeing to step up as CEO from his role as group chief underwriting officer and for his outstanding efforts and contribution in delivering these important changes. I know he will bring invaluable expertise to his new role and we wish him every success for the future.”

Source: Hyperion

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