DUAL Group – one of the world’s largest international MGA has announced that it will be deploying its own group underwriting capital, alongside provisions from its existing capacity providers.
DUAL, the specialist underwriting arm of Hyperion Insurance Group, is the world’s largest international underwriting agency and Lloyd’s largest international coverholder. Hyperion announced in September it had received a $1.5 billion investment from a private equity investor, Hg.
As part of this decision, DUAL will be appointing Alan Telford as its new chief underwriting officer from 1 November. Telford, who joins DUAL from Liberty Specialty Markets, will be reporting to Richard Clapham, DUAL’s CEO and chief underwriting officer. With the addition of Telford, Clapham will be able to focus more on DUAL’s strategic priorities.
Richard Clapham stated that “over the last four years we have made significant investments in our actuarial and analytical capabilities, as well as our service infrastructure and technology, to build out an agile and scaleable underwriting platform with efficiency and performance center stage,”.
Clapham added, “this has been critical on our path to continually dialing up the provision of innovative and expert underwriting and dialing down the frictional costs of insurance.”