Chubb buys DUAL Asia's Financial Lines portfolio

This comes at the back of DUAL’s ending general agent partnership with MSIG.

Chubb has acquired the renewal rights of DUAL Asia’s Financial Lines portfolios in Hong Kong SAR and Singapore after DUAL announced the sale, ending DUAL’s 13-year presence in Asia.

Chubb will be purchasing the business assets including the intellectual property and underwriting models from DUAL in both Hong Kong and Singapore and intends to hire DUAL's underwriting personnel. 

Verone Shek, DUAL Asia's Underwriting and Operations Director, will take on the role of Chubb's Underwriting and Operations Integration Manager, Financial Lines - Asia reporting to Jamie Park, Regional Head of Financial Lines – Asia; strengthening the Chubb team responsible for the continued growth of the small commercial business in Asia. The parties intend the take-over of DUAL's client portfolio renewal rights to be effective from 18 June 2022.

The sale of DUAL’s financial lines comes at the back of the recent ending of its general agent partnership with MSIG.

“Whilst DUAL is naturally disappointed to be exiting financial lines and cyber in Asia we believe this sale is in the best interests of both our clients and employees,” said Damien Coates, CEO of DUAL Asia Pacific.

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