Clem Booth replaces DUAL founder Luis Muñoz-Rojas as chairman

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DUAL, the underwriting arm of Hyperion Group, has hired Clem Booth as non-executive chairman of the board.

Booth was a member of the Allianz SE management board, and chairman of the boards of Allianz UK and Allianz Global Corporate and Specialty, until his retirement from the company in December 2014.

Prior to that Booth was Aon Re International chairman and chief executive and before that he spent 18 years with Munich RE including as a member of the Munich management board and as Munich Reinsurance Africa chief executive.

Booth is currently chairman of global credit insurer Euler Hermes.

As a result of the changes announced by Hyperion, DUAL founder Luis Muñoz-Rojas, will step down as chairman of DUAL but will remain as a non-executive director on the boards of both DUAL and Hyperion.

Hyperion Group chief executive David Howden said: “[Clem] brings a huge depth and breadth of experience from both underwriting and broking to DUAL, the world’s largest international MGA, including almost a decade in senior board and management positions with Allianz, the world’s largest insurer.

“In particular, his passion for attracting and developing people fits very well with our quest to be the natural home for the industry’s entrepreneurs.”

DUAL chief executive Shane Doyle added: “In a fast-changing market Clem will be the perfect Chairman to guide DUAL and ensure that we remain at the forefront of service, distribution, product and technological development as well as disciplined underwriting.”

Booth said: “DUAL is a leading light of the MGA sector and MGAs are one of the fastest growing sectors in our industry, being at the forefront of distribution and the highest quality underwriting. I look forward to being a part of that future.

“As for Hyperion, it offers the industry’s talent a different way and I am very pleased to join the Board. I look forward to helping the Group deliver its ambitious and exciting plans.”