DUAL launches new AXA-backed business line in Australia & New Zealand
DUAL, The specialist underwriting arm of Howden, has launched a new business line offered by its specialist title insurance team, DUAL Asset, in Australia.
The business line will focus on two key areas including real estate transactions involving commercial real estate and M&A transactions in the Asia Pacific (APAC) region.
It aims to target real estate located in Australia, New Zealand, Hong Kong and Singapore and M&A transactions involving companies and trusts across Australia, New Zealand, Hong Kong, Singapore, Japan and South Korea.
The team will be led by Chris Hammond, head of APAC for DUAL Asset.
AXA XL, DUAL Asset’s title insurance capacity partner, will provide capacity for the full product range via its Syndicate 2003 at Lloyd’s, with insurable limits of up to $150 million per policy.
The product range includes title to real estate (including the ability to cover identified issues or defects), title to securities such as shares, units and comparable ownership interests (including the ability to cover identified issues or defects) and fundamental warranty top-up insurance (excess W&I).
Damien Coates, chief executive officer DUAL APAC, said: “At DUAL, we have always focused on helping our distribution network grow their business, and we’re extremely excited that this launch offers a valuable and specialist range of products for our broker partners and their clients. DUAL Asset has a strong heritage of over 10 years as a leading provider of title insurance in the UK and mainland Europe and I am confident this provides great additional choice in this specialist sector.”
Hammond said: “We’re absolutely delighted to be bringing our DUAL Asset title insurance solutions to the Asia Pacific region. This is the first step in building out a full transaction risk offering in the region, and we’re looking forward to expanding our portfolio later in 2024.”
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