DUAL, the underwriting arm of the Hyperion Insurance Group, announced it has acquired Oliva Underwriting, the UK-based MGA specializing in property & casualty, contractor trades and marine insurance.
The acquisition forms a core part of DUAL’s UK commercial strategy, and will allow it to significantly enhance its construction and commercial offering to UK brokers. Following the acquisition, Oliva will become DUAL Oliva, with the DUAL platform enabling it with the investment and infrastructure needed to further develop its leading product range.
Shane Doyle, CEO of the London-based DUAL, commented: “I am delighted to be announcing the acquisition of Oliva. We have a clear strategy to enhance and expand our offering to UK brokers and Oliva will form a significant part of this. It has a leading set of highly complementary products that will allow us to improve and diversify our UK Commercial proposition.”
“Oliva also has a track record for innovation, as evidenced by DNA+, its unique forensic coding crime reduction technology; this matches our own appetite for developing bespoke products that directly address the needs of our client. We look forward to working with their talented team and using the DUAL platform to help them grow their already impressive business.”
“We are hugely excited to be joining DUAL, which offers the perfect platform from which we can deliver our next stage of growth,” said Paul Bennett and Cliff Browne, Oliva’s founding managing directors. “Being part of such a well-reputed MGA will give our customers further security and access to a greater range of products.”
They continued: “DUAL’s culture, aimed at fostering innovation, combined with its agility and underwriting talent means it is well placed to develop and evolve products to empower its customers with the protection they really need. This matches our own vision of a true MGA, making DUAL the ideal home for Oliva.”