Price launches Property and Casualty division for DUAL
Specialist underwriting agency DUAL Corporate Risks today announced the launch of a new Property & Casualty division with initial capacity to be provided by Amlin. Steven Price has been appointed as Director of Property and Casualty to lead the division and joins from Glacier Group.
The new division will offer a range of P&C products to the UK and international markets and will focus on specific segments by developing the relevant underwriting expertise.
Russell Kilpatrick, Executive Chairman of DUAL Corporate Risks, said: “This is a significant development for DUAL and we are introducing Property & Casualty products to complement our successful PI and D&O offering. The range of products will be available to all of our brokers and initially we will offer simple products to demonstrate our capabilities whilst finalising a more extensive product range.
“Launching a P&C division is a natural extension for DUAL as it broadens our offering whilst building and capitalising on our existing successful and profitable business model” he added.
Steven Price, newly appointed Director of Property and Casualty, commented “The product development and diversification for the P&C division is based around a simple proposition of brand, product and service, a proposition that DUAL’s D&O and PI divisions have already successfully implemented.
“The new P&C products will initially be available to our 200 UK based brokers but in the longer term will not be restricted to within the UK.”
Before joining DUAL Steven Price was Managing Director of Glacier Group since 2008 and has also spent time at Securit Re, QBE and Chubb in his 30 year insurance career.
Mr. Price will be based at the DUAL Corporate Risks’ Leadenhall Street headquarters.
ENDS
For further information please contact:
Michael Gaughan T: 020 7623 2368
M: 07796 140963
E: Michael.gaughan@fwdgroup.co.uk
Alexandra Thompson T: 020 7623 2368
M: 07798 898277
E: Alexandra.thompson@fwdpr.co.uk
Notes to Editors:
About DUAL Corporate Risks
DUAL Corporate Risks is the UK operation of DUAL International. Established in 1998, DUAL International is the specialist underwriting arm of the Hyperion Insurance Group, focused on underwriting business critical risks including D&O, Professional Liability, Employment Practice Liability, Computer Crime and Fraud. DUAL International has become a well-established and respected leading underwriter with annual gross premiums of US$150 million and now employs over 120 people in the UK, Spain, Germany, Italy, Australia, Hong Kong, the Caribbean and the Americas.
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 550 people in 40 offices operating out of 18 countries. The Group was awarded a Queen’s Award for Enterprise in International Trade in April 2007.
Hyperion was ranked 25th in the 2009 Insurance Times Top 50 UK Brokers league table and 10th in Post Magazine’s 2008 Top 25 City Brokers report. It was also ranked for the second year running in the 2008 Sunday Times Buyout Track 100.
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.