DUAL Corporate Risks targets growth as it promotes Kilpatrick to Executive Chairman
DUAL Corporate Risks targets growth as it promotes Kilpatrick to Executive Chairman
DUAL Corporate Risks, the UK’s largest specialist Directors’ & Officers’ and Professional Indemnity underwriting agency for mid-market companies, has promoted Managing Director Russell Kilpatrick to the newly created position of Executive Chairman. The new role will enable him to focus on exploring strategic growth opportunities both in the UK and internationally.
Mark Bridges, DUAL Corporate Risk’s Director of Operations, has also been promoted to Managing Director and will run the business on a day to day basis.
Prior to joining DUAL Corporate Risks Mr Kilpatrick served as Managing Director of ACE Corporate Risks; a joint venture between ACE Gibraltar (Holdings) Limited and R Kilpatrick Holdings Limited. The business was acquired by DUAL International in 2003.
Under Mr Kilpatrick’s leadership, DUAL Corporate Risks has grown quickly in size and opened a regional office in Manchester to complement the London operation. The business recently reported its most successful year yet, with GWP exceeding £40 million coupled with impressive underwriting returns.
Mr Kilpatrick is also Chief Underwriting Officer of DUAL International and was appointed to the Board of DUAL International in April 2007.
Mr Bridges joined DUAL Corporate Risks in August 2008 as Director of Operations from AIG where he was Operations & Systems Manager for Central Europe and Russia. He started his insurance career in 1988 with Financial Insurance Group, the creditor insurance arm of GE Capital and later joined Chubb as Manager of the UK & Ireland Customer Services Division before moving to HSBC Insurance Brokers.
Stephen Crowther, Executive Chairman DUAL International, said: “Since acquiring the business in 2003 Russell has done a fantastic job in driving DUAL Corporate Risks forward, both in terms of premium growth and the quality of the products available to brokers.
“The market is undergoing considerable change due the current ecomomic environment and, as a market leader in the provision of D&O and PI products, we intend to take full advantage of the increased demand for corporate protection. As Executive Chairman, Russell will now have the time he needs to capitalise on the numerous market opportunities being presented to us while Mark will use his well proven skills to run the business.
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For further information please contact:
Adrian Beeby
T: 020 7623 2368
M: 07879 403564
E: adrian.beeby@fwdpr.co.uk
Notes to Editors:
About DUAL Corporate Risks
DUAL Corporate Risks is the UK operation of DUAL International, part of the Hyperion Insurance Group. DUAL International was established in 1998. It is a specialist underwriting agency, highly renowned as a leading provider of liability insurance to the mid-market business sector. Its capacity is provided by Arch Europe, rated A-(Excellent). DUAL International now operates from eight offices in five countries: UK, Spain, Germany, Italy and Australia.
The products offered by DUAL Corporate Risks are:
- Directors & Officers
- Professional Indemnity
- Crime
- Pension Trustee
- Investor Protection
- Office / Contents / EL & PL
About Hyperion Insurance Group
Established in 1994 and headquartered in the City of London, the Hyperion Insurance Group is a fast expanding, independently owned insurance and underwriting company.
Since its inception it has grown to become a leading global provider of specialist insurances. Hyperion employs over 700 people in 51 offices operating out of in 18 countries. The Group was awarded a Queen’s Award for Enterprise in International Trade in April 2007.
Hyperion was ranked for the second year running in the 2008 Sunday Times Buyout Track 100. It was also ranked 27th in the 2008 Insurance Times Top 50 UK Brokers league table and 10th in Post Magazine’s 2008 Top 25 City Brokers report.
Hyperion is backed by 3i, a world leader in private equity, who in April 2008 acquired a 27% shareholding in Hyperion. With access to 3i’s capital, along with its resources and expertise, Hyperion is looking to continue its fast pace of growth, both organically and through acquisitions. It is also backed by specialist private equity investor, BP Marsh & Partners plc, and Murofo Investments SL.