Dual Corporate Risks, an underwriting agency and part of London-based Hyperion Insurance Group, has received authorization from Lloyd's to underwrite business domiciled in South Africa and Switzerland on a direct basis via a regulated and approved Swiss broker.
Dual said through this authorization, DUAL will be able to underwrite it’s financial products, including PI, D&O, bankers blanket bonds and commercial crime in these two territories.
Dual Corporate Risks Underwriting Director of Financial Lines Jennifer Martin said that this is a new development for Dual as it enables the company to further expand geographical capabilities by purely using Lloyd’s capacity.
"South Africa and Switzerland provide excellent opportunities for us, and members of the financial lines underwriting team already have proven experience writing business in these areas," Martin said.
Dual will be able to write business in South Africa and Switzerland from January 2011.