DUAL hopes the purchase will help grow its commercial offering

The deal is done

Hyperion Insurance’s underwriting arm DUAL has acquired UK-based managing general agency (MGA) Oliva Underwriting, rebranding it under the name DUAL Oliva.

Oliva, which specialises in property/casualty, contractor trades and marine insurance, was launched by Cooper Gay in 2009. In 2012, Cooper Gay changed the name of Oliva to Globe Underwriting and sold its book of business to founding members Paul Bennett and Cliff Browne, who continued operating under the Oliva brand.

DUAL says that the acquisition will enhance its construction and commercial offering to brokers.

DUAL chief executive Shane Doyle said: “Oliva has a track record for innovation, as evidenced by DNA+, its unique forensic coding crime reduction technology; this matches our own appetite for developing bespoke products that directly address the needs of our client”

DUAL Oliva will develop its product range using the DUAL platform, and managing directors Paul Bennett and Cliff Browne said: “DUAL offers the perfect platform from which we can deliver our next stage of growth.

“Being part of such a well-reputed MGA will give our customers further security and access to a greater range of products.”