DUAL secures strategic partnership with MSIG Insurance (Hong Kong) Ltd

25.01.10

11th May 2009: DUAL International, a leading specialist underwriting agency and the underwriting division of the Hyperion Insurance Group, has announced a strategic partnership between its Hong Kong office, DUAL Asia, and MSIG Insurance (Hong Kong) Ltd, to provide financial lines products for mid market companies in Asia.  

DUAL International is an attractive partner for insurers looking to extend their business into financial lines and other products in new territories – its global reach already extends across Europe, Australia and South America, and this agreement now signals the further expansion of its specialist lines.  In the current global economic climate MSIG offers exceptional financial strength for the Asian market with an unusually high Standard & Poor’s rating of AA-.  

Stephen Crowther, Executive Chairman of DUAL International, comments: “The financial crisis has brought increased awareness amongst insurance buyers of the importance of an insurer’s financial strength.  MSIG’s impressive strength and penetration into the local market, combined with DUAL’s recognised expertise in financial lines insurance for the mid-market, will ensure a highly successful partnership.  DUAL Asia is now fully equipped with a strong facility and market expertise in providing D&O and PI products specifically tailored to meet the needs of the middle market in the region.”  

The Hong Kong office of DUAL Asia is the DUAL group’s first footprint in the region and will be a hub for its future growth in the Asia-Pacific territory.  

Stephen Crowther continues: “There is a growing demand for financial lines insurance in Asia.  The rise in D&O and PI claims has accelerated as a result of the financial crisis and has demonstrated why directors, officers, professionals and consultants need first class protection. Throughout the world DUAL transacts business with relatively low premiums efficiently and it is our extremely high service levels that enable our agents to trade with us profitably and, as a consequence, enables us to access good quality accounts.”