Dual Deutschland granted Lloyd’s coverholder status
Dual, the underwriting arm of Hyperion Insurance Group, is set to launch a new operation in Vienna, Austria next month.
Dual Austria, which launches on 1 July, will be headed by liability specialist Hannes Puchner.
Meanwhile Dual Deutschland was granted Lloyd’s coverholder status in May to support its directors and officers portfolio.
The new operation, which has been added to the group’s managing general agents in the UK, Ireland, Italy, New Zealand, Australia and Latin America, is the sixth Dual MGA to be authorised to place risks in the Lloyd’s market.
Dual Deutschland has signed a binding authority with Lloyd’s syndicate Channel 2015 to provide additional capacity for D&O, errors and omissions, and crime.
Puchner, who is a qualified lawyer, has spent his whole career in the liability insurance field. From 2005 he worked for GrECo, a leading Austrian insurance broker, and from 2009 he headed GrECo’s liability insurance department.
Puchner will focus on delivering D&O and E&O solutions, as well as crime insurance and criminal legal protection insurance.
Dual Group chief executive Damien Coates said: “Heiner Eickhoff and his team in Cologne have been serving the Austrian market from Germany for some time, already achieving a market leading position in the financial institutions sector.
“We now have an opportunity to take a significant foothold in the Austrian market with local presence and expertise, and I am particularly pleased that Hannes has joined us to lead the development.
“Our global growth is focused on the delivery of increased product breadth and depth, increased capacity provided by a growing list of quality capacity providers, and the recruitment of additional experts to the team.
“This new office and the recruitment of a recognised market expert to lead it, alongside the expansion of our German business with its new coverholder status and additional quality capacity, is great news for our European expansion plans.”
No comments yet