VK Underwriting Adopts DUAL Brand
VK Underwriting Adopts DUAL Brand
DUAL International, a leading specialist underwriting agency and the underwriting division of the 3i-backed Hyperion Insurance Group, has announced that VK Underwriting LLC has moved to become part of DUAL International. It is expected that under the DUAL group VK Underwriting will be able to grow faster as it leverages the geographical spread and accumulated knowledge of DUAL International’s offices. GWP at DUAL is set to break through £100m for the current financial year.
VK Underwriting LLC is the leading independent Managing General Agent for Latin America and the Caribbean, providing a range of specialist insurances on behalf of world-class capacity providers. With representative offices in Colombia, Argentina and Mexico, the operation focuses on Directors’ & Officers’, Professional Indemnity and General Liability business, underwriting on behalf of US carriers and underwriters at Lloyd’s.
In time it is expected that VK Underwriting will re-brand as DUAL, but for the time being the company will retain its current name, and Matthew Kelly will continue as Managing Director.
Matthew Kelly, Managing Director of VK Underwriting commented: “This is another step in the evolution of the underwriting unit in Miami which has grown from a broker with an underwriting authority to a fully-fledged MGA. There are clear benefits from belonging to the larger DUAL group with its established reputation and relationships which will complement our growing team and allow us to achieve our ambitious growth objectives whilst maintaining profitability.”
Stephen Crowther, Executive Chairman of DUAL International said: “I am delighted to welcome Matt and his team into the strong DUAL Group. This is a great opportunity for both DUAL and VK Underwriting to leverage each others’ insurer contacts and product knowledge etc. We are now represented on four continents and with the ever-increasing range of products that we can now market we are building an almost unique distribution capability that makes us evermore attractive to insurers looking to roll out new initiatives internationally.”
DUAL International will now operate in the following territories: UK, Spain, Germany, Italy, Australia, Hong Kong, the Caribbean and the Americas.
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NOTES TO EDITORS
For more information or to arrange an interview with Stephen Crowther please contact S-J Douglas at Spotlight Communications Tel : 07909546104
e-mail: sj@spotlightcomms.co.uk
About 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$122.5M and now employs over 120 people in the UK, Spain, Germany, Italy, Australia, Hong Kong, the Caribbean and the Americas.