DUAL Asset rolls out new offerings in Australia and New Zealand

DUAL Asset rolls out new offerings in Australia and New Zealand | Insurance Business New Zealand

Insurance News

DUAL Asset rolls out new offerings in Australia and New Zealand

Long-standing partner to provide capacity

Insurance News

By
Roxanne Libatique

DUAL Australia has unveiled a new business line, expanding its title insurance offerings in the Asia-Pacific (APAC) region.

The initiative is part of DUAL’s specialist team, DUAL Asset, and is aimed at supporting real estate transactions across Australia, New Zealand, Hong Kong, and Singapore, as well as M&A transactions involving companies and trusts in these markets, along with Japan and South Korea.

What to expect from DUAL Asset’s new business line

The new product line includes:

title insurance for real estate, which provides coverage for identified issues or defects
title insurance for securities, which provides coverage for shares, units, and similar ownership interests – including coverage for known issues or defects
top-up insurance, also known as “excess W&I,” which offers additional coverage for fundamental warranties

The title insurance products aim to help buyers, sellers, and financiers manage the legal and financial risks that arise during transactions.

AXA XL, DUAL Asset’s long-standing partner, provides capacity for these products through its Syndicate 2003 at Lloyd’s, with limits of up to USD 150 million per policy.

Damien Coates, CEO of DUAL Asia Pacific, emphasised the importance of this new offering.

“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,” he said.

“We’re absolutely delighted to be bringing our DUAL Asset title insurance solutions to the Asia-Pacific region,” said Chris Hammond, head of Asia Pacific for DUAL Asset. “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.”