DUAL North America (DUAL), a unit of UK-based insurance coverage dealer Howden, has launched a brand new surety underwriting division.
The brand new unit gives a variety of underwriting options and experience for patrons in each industrial and contract surety strains of enterprise.
DUAL has fashioned an alliance with speciality insurer AXIS Capital to offer these companies.
As well as, AXIS Insurance coverage Firm has agreed to offer DUAL with delegated authority for the US surety enterprise.
When mixed with out there referral capability, the association gives DUAL and its US shoppers a possible Treasury Itemizing exceeding $100m.
Concurrently, DUAL has introduced the appointment of Mark Farina and Brendan Keating as govt vice-presidents of its surety unit.
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Farina has greater than 35 years of expertise within the surety trade whereas Keating joins DUAL with over 12 years of expertise.
DUAL stated it has additionally assembled a workforce of 27 surety specialists together with engineers and underwriters.
DUAL North America CEO John Johnson stated: “Getting into the surety market in such a major manner represents an essential milestone within the execution of our strategic growth and diversification plan at DUAL North America.
“That is an distinctive group of gifted surety trade professionals whose workforce construction of skilled underwriters, subject engineers and authorized specialists supplies a uniquely deep in-house experience. In AXIS, we’re partnering with an organization that may be a confirmed specialist market with a powerful international platform and established monetary power.”
AXIS Capital North America head Mike McKenna stated: “We’re happy to companion with DUAL and its distinctive workforce of confirmed Surety professionals.
“This partnership demonstrates our dedication at AXIS to be a world market chief in speciality insurance coverage, working with educated, skilled companions to develop extra options that meet the wants of our shoppers.”
Final month, DUAL Europe launched a new marine underwriting hub within the Netherlands to offer protection in builders’ dangers, ocean and inland hull, cargo and land gear strains.
