DUAL International appoints Executive Chairman

DUAL International, a specialist underwriting group with a specific mandate for mid-market business and part of the Hyperion Insurance Group, has today announced the appointment of Stephen Crowther as its Executive Chairman.

DUAL has grown dramatically since its establishment in 1998. Gross written premium has increased year on year with figures for 2006 surpassing the €100 million mark. Backed by top quality underwriting capacity, DUAL now operates seven offices in five countries: UK, Spain, Germany, Italy and Australia.

Stephen is joining the Group from B P Marsh & Partners Plc, the niche venture capital provider which has backed Hyperion since its formation in 1994. Stephen acted as the company’s nominee director on the Hyperion Insurance Group Board for the past eight years as well as being a non-executive director on the DUAL International Board.

Luis Muñoz-Rojas, the current Chairman of DUAL, said: “Stephen’s career in the London insurance market spans three decades in both broking and underwriting. Before joining B P Marsh, Stephen was Managing Director of Archer Underwriting, a Lloyd’s managing agency, and before this he was Managing Director of the Lloyd’s broker, Nelson Hurst & Marsh. We have greatly valued the knowledge and experience that he has brought to DUAL as a non-executive director, so I am delighted that he has accepted my invitation to take over the baton from me and become DUAL’s Executive Chairman. This move will enable me to give more time to my duties as the Hyperion Board Director responsible for leading the Group’s growing interests in Spain.”

Luis will remain a member of the DUAL Board as well as Chairman of DUAL Iberica.

Commenting on his new role, Stephen Crowther said: “DUAL is entering a new phase in its evolution. Its strategic focus on mid-market business is paying dividends, enabling it to look to expand not only its geographic presence but also its product reach. At a time when others are suffering from the current challenging market conditions, DUAL’s continuing success is a clear demonstration of the strength of its business model and the ability of its people to constantly develop new market opportunities. I am tremendously excited at the prospect of leading the DUAL International team as they take the business forward, and relish the challenges ahead.”