DUAL UK has announced a five-year capacity deal led by global insurer Zurich, along with Liberty and other A-rated capacity providers to support its new regional Commercial Combined product.
The new product is aimed at the £10,000 – £50,000 premium segment of businesses outside London.
A Commercial Combined product, it has been designed to fill a gap in the market by offering a flexible, modular policy structure, combined with robust protection and technical expertise. It will provide selected brokers with a service-led, solution orientated, expert underwriting partner.
David Nichols, Head of P&C Retail, Zurich, said: “Our long-standing partnership with DUAL has been a real game-changer, delivering great value for Zurich. DUAL has always shown how MGAs can unlock new opportunities, helping partners reach underserved markets.
“That’s why we’re thrilled to continue this powerful collaboration and have complete confidence in DUAL’s ability to deliver an excellent proposition and appeal to the target market in the years ahead.”
This new capacity deal is a testament to DUAL UK’s strong and long-standing relationships with insurers like Zurich and Liberty.
Securing this long-term capacity is a crucial step in DUAL’s ambitious growth strategy. Over the past 20 years, DUAL has expanded rapidly in the UK to surpass £1 billion GWP across 27 product lines.
Simon McGinn, Chief Executive Officer, DUAL UK, stated: “I am delighted to announce this new long-term deal, which will support the next phase of our growth. I’m particularly pleased that we can build on our strong and established strategic partnerships with Zurich and Liberty, who share our values and whose keenness to work with us is a testament to the strength of our proposition.
“We’ve been successfully trading across the UK for some time now and have made good progress building our teams outside London over the past 12 months. This injection of capacity allows us to continue to launch new solutions into areas where brokers and their end customers really need them.”
He added: “Growing our presence across the country allows us to take our existing business lines to brokers where they are based and tap into the huge opportunities that exist there. We’ve listened to our broker partners who tell us they’re looking for more bespoke, tailored solutions underpinned by a service-led proposition.
“Our new Commercial Combined product adds to our existing regional product suite and supports our strategy of being more relevant to brokers daily.”
Henry Nelson, Chief Underwriting Officer, Liberty Specialty Markets, commented: “Liberty’s enduring partnership with DUAL over many years has been valuable to us, our clients and partners, with DUAL a prime example of the value creation high-quality MGAs can achieve.
“With its innovative approach to supporting distribution partners in reaching underserved segments, Liberty is pleased to announce the continuation of this mutually beneficial relationship and to support DUAL’s further success into the future.”
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