DUAL Europe has expanded its specialty lines portfolio with the launch of a dedicated trade credit insurance business, further strengthening its presence across several European markets.
The new division is led by Frank Masteling (pictured), who has been appointed Head of Trade Credit for DUAL Europe. Masteling brings over 25 years of experience in trade credit insurance, having previously served as Managing Director at Nexus Trade Credit, where he was responsible for operations in both the UK and Europe. His career also includes senior roles at Atradius and Rabobank, spanning underwriting and commercial leadership.
Capacity for the new trade credit offering is backed by Axeria, a pan-European insurer with an A rating. DUAL has already established specialist trade credit teams in the Netherlands, Germany, and Spain, with a fourth team set to launch in Italy.
This move follows DUAL’s broader strategic growth in specialty lines, including recent developments in marine insurance, with new underwriting hubs opened in Rotterdam, Genoa, and Hamburg.
Leadership Across Regions
DUAL has named experienced professionals to lead its trade credit operations in key regions:
- Joost van Steen has been appointed Head of Trade Credit for DUAL Benelux. He brings leadership experience from Howden Nederland / VLC & Partners, Marsh, Allianz Trade, and Coface.
- Frederik Weiss will head up the trade credit division in Germany (DUAL Deutschland). He has nearly two decades of experience across underwriting, product development, and broker relationships, primarily at Allianz Trade.
- In the Iberian Peninsula, the team includes Robert de Bruyn, formerly with Coface and Nexus Trade Credit, alongside Almudena Arribas, a financial analyst with 20 years of credit risk expertise, including 18 years at Coface.
Product Offering
DUAL’s new trade credit product suite includes two main solutions: top-up coverage and non-cancellable credit limits.
The top-up cover provides additional credit capacity beyond what is available from a primary insurer and will be launched through two products: Top-Up Easy Start and Top-Up Easy Limits. Meanwhile, the non-cancellable limits product is designed to provide stable, consistent protection regardless of changing market conditions.
With underwriting teams operating in 19 locations across 13 European countries, DUAL Europe collaborates with over 11,000 brokers and agents. The business writes approximately US$2.3 billion in gross written premiums annually.
