October 24, 2019
Deal harnesses DUAL Asset’s pioneering portal to deliver more choice to clients
DUAL Asset, part of DUAL, the underwriting arm of Hyperion Insurance Group, today announced a long-term partnership with Aviva, the UK’s largest general insurer, for their UK legal indemnity insurance business. This deal sees DUAL Asset further consolidate its position as one of the leading legal indemnity underwriters worldwide.
Aviva, under the Norwich Union brand, will join DUAL Asset’s online comparison sites: – www.my- legal-indemnity-shop.com in England & Wales, www.my-title-insurance-shop.com in Northern Ireland and www.my-defective-title-shop.com in Scotland.
A range of insurance products for both residential and commercial property transactions will be available under the Norwich Union brand through DUAL Asset’s online quote and buy portal. This new partnership means the online portal now offers quotes and policies from up to three major ‘A’ rated insurers – AXA (XL Catlin), RSA and Aviva. Aviva will also be providing £75m of capacity to DUAL Asset for rights of light policies, with DUAL underwriting all enquiries received by Aviva or through their normal distribution channels.
Ian Keith, Managing Director, DUAL Asset said: “We’re clearly delighted to be partnering with such a strong brand in Aviva, which will further consolidate the strength of our online comparison sites, as the easiest and quickest way to get quotes from the leading players in the market. DUAL Asset is always looking for ways to evolve our product offering, using technology to deliver best-in-class products to our clients and these market-first portals are another example of this.”
Keith added: “In addition, Aviva providing rights of light capacity allows us to seriously and competitively enter a market that we have not focused on to date.”
Kevin Mills, Head of Legal Indemnities, Aviva commented: “Aviva, who owns the Norwich Union brand, and DUAL Asset are both well-known and trusted brands in the Legal Indemnities market, I am confident that together we can deliver a range of products to suit transactions of all shapes and sizes. I have known many of the management team at DUAL for a number of years and am confident they share the same core belief as the team here at Aviva that delivering a consistently high level of customer service is paramount.”
DUAL Asset was established in 2013 and is the one of the world’s leading international legal indemnity underwriters with an annual gross written premium of over £50m, written across 40 countries. They also created the first and still only legal indemnity comparison site in the market. Aviva is the UK’s leading insurer and has provided legal indemnity insurance for almost 60 years, a significant period of which was under the Norwich Union brand.