The global underwriting division of Howden Group Holdings, DUAL Group, has expanded into Latin America through the acquisition of a Mexico-based MGA and the launch of its own office in São Paulo, Brazil.
DUAL’s entry into Latin America means it now has a presence in 18 countries across the Americas, Europe, and Asia Pacific.
The specialist underwriter has acquired Dock Re in Mexico, an MGA with a focus on property, casualty, and financial lines, and a Lloyd’s coverholder. The MGA is headquartered in Mexico City and is led by Gabriel Buzo as Managing Director.
At the same time, DUAL has opened a new office in São Paulo led by Francisco Vogt Marques, who has more than two decades of experience within the Brazilian insurance sector across energy, P&C, and reinsurance.
“I am absolutely delighted to have such a strong team on the ground in Latin America, which is a key insurance market with great potential. The combination of our global platform with the underwriting expertise of Gabriel, Francisco and their teams, means we are laying the foundations for a really compelling proposition to brokers and carriers across the region,” said Richard Clapham, Chief Executive Officer (CEO) of DUAL.
“DUAL’s strategy has always been to deliver the best local underwriting expertise, supported by the strength and scale of our global business. The underwriting expertise and entrepreneurial energy that both teams bring are a great fit for DUAL. The addition of outstanding local talent and greater product diversification will significantly enhance DUAL’s existing Latin American business written in London,” he continued.
DUAL, which boasts the broadest geographic and specialist product distribution platform of any MGA, has now added underwriting teams in Mexico and Brazil, enabling it to provide underwriting expertise to carriers and brokers across Latin America.
“The acquisition of Align, which we announced in August, was a transformational step for DUAL, creating a $2bn GWP MGA and doubling our scale in the US. It’s fantastic to be announcing another important landmark, as we establish our business in Latin America,” added Clapham.
