Howden Group invests in DUAL’s reinsurance arm

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Howden Team buys DUAL’s reinsurance arm

Worldwide insurance coverage team, Howden Team Holdings, has actually spent US$ 84 million to sustain Tamesis DUAL Ltd (Tamesis), the reinsurance department of DUAL Team– the globe’s biggest MGA. The purchase stands for the initial underwriting capital expense for Howden Team.

The extra ability has actually remained in location given that January 01, 2021, with the funding supplied by Howden Team as well as a third-party financier.

David Howden, Chief Executive Officer of Howden Team Holdings, stated the financial investment represents what the team can do for its customers when it makes use of deep knowledge from throughout the team, such as Howden Reinsurance, Howden Resources Markets, Tamesis, as well as DUAL.

“It demonstrates not only our ability to structure innovative underwriting capital solutions but also to bring in the highest quality third parties to support them,” he stated. “This bargain represents our initial underwriting funding dedication on behalf of DUAL, as well as I’m thrilled to invite a third-party financier to rest together with the team for this purchase. We will certainly sign up with Tamesis’ existing companions as well as improve their currently exceptional placement in the reinsurance market.

“Our investment in talent, as demonstrated by our recent appointment of Paul Kneafsey in his role as Group Capital Underwriting Director, is also crucial as we begin to deploy this capital, starting with supporting Tamesis’ 2021 growth plans. Our ambition is to consistently show the value we bring beyond the transaction itself, as a true differentiator and as a client champion.”

Richard Clapham, Chief Executive Officer of DUAL Team, commented: “It’s fantastic that Tamesis is to be the first to benefit from this new capital, which is testimony to their underwriting acumen and their exemplary track record in underwriting retrocessional Excess of Loss. This new binder, supporting this class, gives Tamesis increased capacity in an area which is seeing significantly improved pricing.”

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