HYPERION GROUP UNDERWRITING

INTRODUCTION

The underwriting arm of Hyperion was formed in 1998 when the Group’s first underwriting agency, DUAL Ibérica, was established in Madrid. An underwriting agency has a binding (or delegated) authority given by an insurer to grant cover on the insurer’s behalf within certain pre-agreed parameters. Underwriting agency businesses act as a virtual insurer, performing all of the functions typically performed by an insurer other than retaining the ultimate balance sheet risk. Hyperion operates underwriting agency businesses through CFC Underwriting, DUAL and VK Underwriting.

CFC UNDERWRITING

CFC Underwriting was established in 2000 to take advantage of growing technology industry risks. Although specialising in Liability insurance for technology businesses, it has remained flexible in its approach to underwriting risk and has developed new lines wherever an opportunity exists. In the USA, for example, it provides its broker clients with a Liability product designed to satisfy USA requirements for minimum insurance coverage of nursing homes.

DUAL

DUAL is the largest underwriting agency in Hyperion and consists of offices in Germany, Italy, Spain, the United Kingdom, Australia and New Zealand. These offices are supported by a headquarters in London, DUAL International. Initially focusing on Directors & Officers and Professional Indemnity, it has broadened its offering to brokers with Pension Trustee Liability, Employment Practice Liability, and Commercial Crime and Fraud products. Its strategy has always been to sell insurance to low risk / low volatility assureds focusing on profitable underwriting.

VK UNDERWRITING

The origins of VK Underwriting date back to 2003, when a Miami-based intermediary established a contract to underwrite Directors & Officers Liability insurance on behalf of several prominent insurance providers. Over the last five years, the company has expanded its product offering to include a full suite of Liability products. VK Underwriting continues to focus on SME companies domiciled mostly in Latin America.

CFC Underwriting Office

• CFC Underwriting Limited – London

DUAL Offices

• Australia – DUAL Australia Pty. Limited – Brisbane, Melbourne, Sydney, Perth
• Germany – DUAL Deutschland GmbH - Koln
• Hong Kong – DUAL Asia – Hong Kong
• Ireland – DUAL Ireland - Dublin
• Italy – DUAL Italia S.p.A. - Milan
• New Zealand – DUAL New Zealand Limited – Auckland
• Puerto Rico – VK Underwriters Inc. – San Juan
• Spain – DUAL Iberica Riesgos Profesionales S.A. – Barcelona, Madrid
• UK – DUAL Corporate Risks – London, Manchester
• UK – DUAL International Limited – London
• USA – VK Underwriters LLC – Buenos Aires, Mexico, Miami

VK Underwriting Office

• VK Underwriting – Miami