DUAL UK, a specialist managing general agent (MGA) operating across the UK insurance market, has expanded its construction insurance capacity as it continues to grow its presence in the mid-market sector.
The move increases the scope of cover available through its construction products, allowing the business to support a wider range of commercial clients and broker partners.
The company has announced increased capacity for its Construction Project CAR and Renovation products, with limits now exceeding £25 million. The additional capacity is provided by AXA XL, Great American International Insurance (UK) Ltd and other A-rated capacity partners.
The expansion allows DUAL UK to extend its underwriting proposition beyond its established SME client base and support larger project and renovation risks within the mid-corporate market.
The company has also increased the capacity available through its Annual Contractors’ product, enabling DUAL UK to consider businesses with turnover levels of up to £50 million and contract values of up to £20 million. The broader underwriting appetite includes terrorism protection, providing brokers with access to a wider range of construction insurance solutions.
Simon McGinn, Chief Executive Officer of DUAL UK, commented: “Our ambition is to cement DUAL UK’s position as a leading MGA in the construction space, working closely with selected partners.
“Our specialist underwriting team’s flexibility and ability to offer our broker partners a competitive edge, helps positions us ahead of other MGAs in this market. Our record of balancing industry pressures including softening market conditions, against sustainable underwriting, makes DUAL well placed to adapt to changing conditions within the construction industry, ensuring long-term value for our partners and clients.”
DUAL UK’s Construction team is led by Steve Kelly, Managing Director of Construction, who brings more than 35 years’ experience in insurance. His background includes underwriting major construction risks across the European Union, alongside extensive technical knowledge of the construction insurance market.
Kelly added: “Increasing capacity for DUAL UK’s Construction Project and Annual product coverage marks a major step forward in our commitment to offering brokers comprehensive insurance solutions and an opportunity to work with a broader range of businesses within the construction industry.
“This expansion comes at a pivotal moment for the UK construction sector, which is forecast to grow throughout the remainder of this decade following a challenging couple of years. By increasing our capacity now, we’re helping clients navigate recovery and seize new opportunities with confidence.
“Our team is built on industry-leading expertise, with a clear and transparent risk appetite and robust training. In a competitive market where pricing remains stable and capacity is expanding, these qualities set us apart. They are a great platform upon which to support a wider range of businesses with greater flexibility and enhanced underwriting parameters.”
DUAL UK said the additional capacity has been introduced during a period of recovery for the UK construction sector. The industry has experienced pressures in recent years, including rising SME insolvencies, reduced demand and ongoing skills shortages. However, improving economic conditions, expected reductions in interest rates and government initiatives focused on housing, planning and workforce development are supporting a more positive outlook.
The Construction Industry Training Board’s Outlook report forecasts UK construction output growth of 1.6% in 2025, followed by average annual growth of 2.1% through to 2029.
Alastair Baker, Head of International Construction, UK & Lloyd’s at AXA XL, said: “We are delighted to be expanding our relationship with Dual UK, providing them with additional capacity to service a broader range of clients. They are already a well-respected partner in this space, and we know that their current and future clients will benefit from their expanded presence and increased expertise.”
Alec McFarlane, Head of Construction & Engineering at Great American International Insurance (UK) Limited, stated: “The underwriting team at DUAL has extensive experience in the construction sector. We are excited to help meet their capacity needs and to further build on our very positive relationship.”
