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DUAL UK expands construction insurance capacity for mid-market projects
The MGA said its Construction Project CAR and Renovation products now offer limits above £25 million, and its Annual Contractors underwriting can cover contractors with up to £50 million in turnover and £20 million in contract values.
DUAL UK, a specialist managing general agent operating across the UK insurance market, has expanded its construction insurance capacity to grow its reach in the mid-market segment. The increase is intended to broaden the scope of cover available through its construction products for a wider range of commercial clients and broker partners, Reinsurance News reported.
DUAL UK announced higher capacity for its Construction Project CAR and Renovation products, saying limits now exceed £25 million. The additional capacity is backed by AXA XL, Great American International Insurance (UK) Ltd, and other A-rated capacity partners, supporting underwriting for larger project and renovation risks within the mid-corporate market.
The company also increased capacity for its Annual Contractors’ product, enabling it to consider businesses with turnover levels up to £50 million and contract values up to £20 million. DUAL UK said its broader underwriting appetite includes terrorism protection, giving brokers access to additional construction insurance solutions.
DUAL UK Chief Executive Officer Simon McGinn said the firm’s ambition is to cement its position as a leading construction-space MGA, working closely with selected partners. The company added that its construction team is led by Steve Kelly, Managing Director of Construction, who brings more than 35 years of insurance experience, including underwriting major construction risks across the European Union.