DUAL UK, the managing general agent and subsidiary of insurance intermediary Howden, announced a five-year capacity deal led by Zurich Insurance, along with Liberty Specialty Markets and other A-rated capacity to support its new regional Commercial Combined product.
The Commercial Combined product is aimed at the £10,000-£50,000 premium segment of businesses outside London. Designed to fill a gap in the UK market, the product offers a flexible, modular policy structure, combined with robust protection and technical expertise.
It will provide selected brokers with a service-led, solution-orientated, expert-underwriting partner, DUAL UK said, noting that it has a long record of working with Zurich and Liberty and this deal cements its position as a strategic partner to leading global insurers.
Securing this capacity is part of DUAL’s ambitious growth plan, designed to help brokers grow their businesses. Over the past 20 years, DUAL has expanded rapidly in the UK to surpass £1 billion GWP across 27 product lines.
“I am delighted to announce this new long-term deal, which will support the next phase of our growth,” commented Simon McGinn, chief executive officer, DUAL UK.
“I’m particularly pleased that we can build on our strong and established strategic partnerships with Zurich and Liberty, who share our values and whose keenness to work with us is a testament to the strength of our proposition,” he added.
McGinn said the injection of capacity allows DUAL UK to continue to launch new solutions into areas where brokers and their end customers really need them.
“Growing our presence across the country allows us to take our existing business lines to brokers where they are based and tap into the huge opportunities that exist there,” he explained.
“We’ve listened to our broker partners who tell us they’re looking for more bespoke, tailored solutions underpinned by a service-led proposition. Our new Commercial Combined product adds to our existing regional product suite and supports our strategy of being more relevant to brokers daily.”
“Our long-standing partnership with DUAL has been a real game-changer, delivering great value for Zurich. DUAL has always shown how MGAs can unlock new opportunities, helping partners reach underserved markets,” according to David Nichols, head of P&C Retail, Zurich.
“Liberty’s enduring partnership with DUAL over many years has been valuable to us, our clients and partners, with DUAL a prime example of the value creation high-quality MGAs can achieve,” said Henry Nelson, chief underwriting officer, Liberty Specialty Markets.
Established in 1998, today DUAL has over 1,800 people in 22 countries across the Americas, Europe and Asia Pacific, and is one of Lloyd’s’ largest international coverholders. Launched in 1994, parent company Howden provides insurance broking, reinsurance broking and underwriting services and solutions to clients ranging from individuals to the largest multinational corporations.
Source: DUAL UK
Topics New Markets Insurance Wholesale
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