VK Underwriting in property push

VK Underwriting, part of the Dual Group, has launched into the property market.

It is the first step for the business in expanding its offering beyond its core specialist liability lines.

Managing director Matthew Kelly said: “Our business has experienced robust growth over the past three years. We have simultaneously built a strong distribution network and a leading position throughout Latin America and the Caribbean in our core lines of business, liability and specialty liability.

"Through the addition of more products we plan to maximize these relationships and explore opportunities beyond our core lines. The property market is one of the biggest product lines in commercial P&C in the region, so we believe that commercial property is the most logical new product offering to explore.”

Miami-based VK has hired Keith Goymer to spearhead its launch into the new sector.

Barents Re, one of the world’s premier specialty reinsurance groups, will be providing the capacity. Barents Re is rated A- by A.M. Best.

Kelly added: “This is an exciting opportunity for VKU that offers significant upside potential.

"I believe the combination of Keith’s knowledge and expertise, together with our distribution network, relationships and strong paper from Barents, forms a firm foundation from which to continue to grow our presence in the Latin American and Caribbean market.”