Lloyd’s Syndicate Dale and DUAL Launch MGU with Focus on U.S. Property Insurance
Dale Underwriting Partners and DUAL announced a new joint venture, Dale DUAL MGU Ltd. (DDML), in collaboration with Aviva with immediate effect. This partnership has been brought together by Howden Reinsurance Broking led by head of Global Specialty Reinsurance, Gordon Craig.
As part of this collaboration, UK insurer Aviva has entered into a three-year agreement to offer capacity on mid-market global commercial property business written by Dale’s property insurance team and focusing primarily in the U.S. market. The initial focus of DDML will be to bring additional capacity to the existing Dale underwriting teams.
“This is a major development for Dale Underwriting Partners. Our partnership with DUAL, the largest international managing general agent in the world, and Aviva is a fantastic endorsement of the quality of our underwriting expertise and access to distribution in this rapidly improving market,” said Duncan Dale, CEO, Dale Underwriting Partners. Dale underwriting is an independent, owner-managed Lloyd’s syndicate, which began trading on Jan. 1, 2014 and has a stamp capacity of £147 million for the 2020 year of account and £205 million for the 2021 year of account.
“We believe this brings additional quality capacity to our clients and brokers to complement our offering from our Lloyd’s Syndicate. DDML will commence underwriting initially focused on the property insurance portfolio, led by Ian Bridge,” Dale added.
“We are delighted to announce the launch of DDML, working with Dale Underwriting. Dale has a well-deserved reputation for excellent underwriting making them a perfect partner for DUAL. The collaboration with Aviva further cements DUAL’s relationship with this leading insurer and we look forward to building this relationship for the benefit of all parties,” commented Richard Clapham, CEO, DUAL Group, the specialist underwriting arm of Howden Group Holdings. DUAL is the world’s largest international underwriting agency and Lloyd’s largest international coverholder.
“This is a great opportunity for us to expand and continue our relationship with DUAL under this collaboration with DDML. We are delighted to offer capacity primarily on USA mid-market business, a territory we have been expanding in across our property classes,” said Nick Major, chief underwriting officer of Aviva’s Commercial Lines.
Source: Howden Group Holdings
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