Dual, the specialist underwriting arm of Howden Group, has expanded its offerings in Asia-Pacific with the launch of a new title insurance business line.
The initiative, led by Dual Asset, aims to enhance support for commercial real estate and mergers and acquisitions (M&A) transactions across several key markets in the region.
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Dual Asset’s new business line will concentrate on real estate transactions involving commercial properties in Australia, New Zealand, Hong Kong and Singapore.
It will also cover M&A transactions with target companies and trusts across markets including Japan and South Korea.
The new product line-up is designed to provide comprehensive coverage for real estate titles, addressing potential issues or defects.
The offerings also include title insurance for securities such as shares and units, and fundamental warranty top-up insurance, known as excess warranty and indemnity.
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By GlobalDataThese customised title insurance products are tailored to help sellers, buyers and financiers manage and allocate the legal and financial risks that arise during transaction processes.
AXA XL, Dual Asset’s long-standing title insurance capacity partner, is backing the full product range through its Syndicate 2003 at Lloyd’s, with insurable limits available up to $150m per policy.
Chris Hammond, head of Asia-Pacific for Dual Asset, is leading this strategic expansion.
Dual Asia-Pacific CEO Damien Coates said: “At Dual, we have always focused on helping our distribution network grow their business, and we are 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 ten 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 added: “We are 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 are looking forward to expanding our portfolio later in 2024.”
The expansion follows Dual’s recent move to enhance its marine capabilities through the acquisition of the Genoa-based marine team from Swiss Re.
