DUAL Asset
DUAL UK (DUAL Corporate Risks Limited) is one of the world's largest international Managing General Agents, underwriting 27+ specialized insurance product lines and distributing them through a network of 3,700+ UK brokers on behalf of global capacity providers.
- Company typePrivate
- Founded2013
- HeadquartersLondon, United Kingdom
- Headcount51–100
- GTM typeB2B
- OfferingServices
What DUAL Asset does
DUAL UK, operating legally as DUAL Corporate Risks Limited, is one of the world's largest international Managing General Agents (MGAs), headquartered at One Creechurch Place, London, and authorized and regulated by the Financial Conduct Authority under firm reference number 312593. The company underwrites and administers 27+ specialized insurance product lines spanning construction, corporate property, financial lines, M&A, cyber, natural resources, professional indemnity, climate risk and resilience, social care, marine liability, bloodstock and equine, and title and legal indemnity. Distribution is conducted exclusively through a network of 3,700+ UK insurance brokers, with the company sitting between brokers (who bring risks) and capacity providers (who supply underwriting capital). The operation is part of the broader DUAL Group, which operates from 21 countries and partners with 11,000+ brokers and agents worldwide.
The core technology is an insurance underwriting and administration platform that supports direct underwriting decisions and policy administration. DUAL UK emphasizes an 'independent culture' that empowers underwriters to make fast decisions — a stated differentiator versus layered carrier-style underwriting. The company also maintains five wholly-owned branded underwriting subsidiaries (Ashby Underwriting, IPP, KGM, Magenta, and Tamesis) that operate under the DUAL umbrella to serve specialist broker niches.
The business model is that of a classic MGA. The company collects Gross Written Premiums of £1.1bn from policyholders via broker distribution, retains commission and underwriting margin, and cedes the balance to capacity providers (insurers and reinsurers). Pricing is quote-based and individually underwritten by risk, with annual billing cadence. Primary customer segments are insurance brokers and intermediaries (business-unit segment) and capacity providers; the company does not sell directly to policyholders.
DUAL Asset firmographics
Firmographics- Name
- DUAL Asset
- Legal name
- DUAL Corporate Risks Limited
- Website
- https://dualasset.com
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- DUAL UK (DUAL Corporate Risks Limited) is one of the world's largest international Managing General Agents, underwriting 27+ specialized insurance product lines and distributing them through a network of 3,700+ UK brokers on behalf of global capacity providers.
- Ownership category
- akta.pro rank
DUAL Asset industry classification
Industry- Product category
- Specialty Insurance Underwriting (Managing General Agent)
- NAICS
- Agencies, Brokerages, and Other Insurance Related Activities (5242)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Insurance Program Administration & MGA/MGU Services (FSAEADAK)
Keywords
Where DUAL Asset is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
DUAL Asset business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Insurance Underwriting and Premium Revenue: DUAL operates as a Managing General Agent (MGA) earning revenue through underwriting insurance policies. The company collects Gross Written Premiums (GWP) of £1.1bn from policyholders via broker distribution, retains a portion as commission and underwriting profit, and passes remaining premiums to capacity providers (insurers/reinsurers). This is a recurring revenue model based on insurance premium flows.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Custom insurance solutions with quote-based pricing |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
DUAL Asset product offering
Product offeringCore offering
DUAL UK operates as a Managing General Agent (MGA) that underwrites and distributes 27+ commercial and specialty insurance product lines on behalf of highly rated capacity providers (insurers and reinsurers). The company intermediates between capacity providers and a network of 3,700+ UK brokers, collecting £1.1bn in Gross Written Premiums, retaining commission and underwriting profit, and ceding remaining premiums to capacity backers.
Product overview
DUAL UK is one of the world's largest international Managing General Agents (MGAs) operating under the DUAL Group. The company offers a comprehensive portfolio of 27+ product lines across commercial and specialty insurance. The product portfolio is organized into core product categories (Bloodstock & Equine, Climate Risk & Resilience, Commercial Combined, Commercial, Construction, Corporate Property, Credit Risk, Crisis Management, Cyber, Financial Lines, M&A, Marine Liability, Natural Resources, Professional Indemnity, Social Care, and Title & Legal Indemnity) with numerous sub-products under each category. Additionally, DUAL UK distributes branded products through subsidiary brands including Ashby Underwriting, IPP, KGM, Magenta, and Tamesis. The company serves 3,700+ brokers with £1.1bn GWP and operates with 500+ UK employees, backed by highly rated insurance and reinsurance capacity providers.
Differentiator
Problem solved
Functional benefit
Brands
- Ashby Underwriting: Branded underwriting product
- IPP
- KGM
- Magenta
- Tamesis
Products and services
- Bloodstock & Equine Insurance coverage for bloodstock (horses) and equine-related risks, distributed through DUAL UK's broker network to commercial and individual clients.
- Climate Risk & Resilience Insurance solutions addressing climate-related risks and resilience for businesses, including Energy Efficiency Retrofit and Environmental Investment Protection coverages.
- Commercial Combined Comprehensive commercial insurance package combining multiple coverage types for businesses, launched in July 2025 and distributed through DUAL UK's broker network.
- Commercial Insurance General commercial insurance products including Airside Liability, Aviation Products Liability, Land Owners Liability, Print, and Unoccupied Property Owners coverage.
- Airside Liability Liability coverage for risks associated with airside operations at airports, underwritten for brokers serving aviation clients.
- Aviation Products Liability Liability insurance for aviation products and manufacturers, distributed through the DUAL broker network.
- Land Owners Liability Liability coverage for land owners, underwritten and administered by DUAL UK on behalf of capacity providers.
- Print Insurance coverage for printing operations and related risks, distributed through DUAL UK brokers.
- Unoccupied Property Owners Insurance for properties that are currently unoccupied, underwritten by DUAL UK for broker-distributed clients.
- Construction Insurance Construction insurance products including Contractors Combined, Contractors Liability, Contractors All Risks, and DUAL DNA+, underwritten for construction firms via DUAL UK's broker network.
- Contractors Combined Tailored protection for UK builders and trades combining multiple coverage types, distributed via DUAL brokers.
- Contractors Liability Liability insurance specifically designed for contractors, underwritten by DUAL UK.
- Contractors All Risks – Annual Annual contractors all risks policy providing robust coverage for construction firms throughout the policy term.
- Contractors All Risks – Project Tailored contractors all risks project insurance for specific construction projects, underwritten by DUAL UK.
- Contractors – Excess Layer Specialist excess layer insurance for UK contractors with cover available up to £15m.
- DUAL DNA+ Advanced construction insurance product with enhanced features and coverage, designed for construction contractors seeking broader risk protection.
- Renovation Insurance coverage for renovation projects, underwritten by DUAL UK for broker clients.
- Corporate Property Insurance coverage for corporate property assets and risks, distributed through DUAL UK's broker network.
- Credit Risk Insurance protection against credit-related losses and risks, distributed through DUAL UK brokers.
- Crisis Management Crisis management insurance including Product Recall and Product Contamination coverage, underwritten by DUAL UK for businesses facing product-related incidents.
- Product Recall Insurance coverage for product recall incidents and associated costs, distributed via DUAL UK brokers.
- Product Contamination Insurance coverage for product contamination incidents, underwritten by DUAL UK.
- Cyber Cybersecurity insurance coverage for businesses, distributed through DUAL UK's broker network.
- Financial Lines Financial lines insurance including Commercial D&O and Crime, and Financial Institutions coverage, underwritten by DUAL UK.
- Commercial D&O and Crime Directors and Officers liability combined with crime coverage for commercial entities, distributed via DUAL UK brokers.
- Financial Institutions Specialized insurance coverage for financial institutions, underwritten by DUAL UK.
- M&A Mergers and acquisitions insurance solutions, distributed through DUAL UK's broker network.
- Marine Liability Marine liability insurance coverage, underwritten by DUAL UK for broker-served maritime clients.
- Natural Resources Insurance coverage for the natural resources sector including renewable energy, underwritten by DUAL UK on behalf of capacity providers.
- Professional Indemnity Professional indemnity insurance for various professions, underwritten by DUAL UK and distributed via brokers.
- Social Care Insurance coverage for social care providers including children's homes and Special Educational Needs Schools, underwritten by DUAL UK.
- Title & Legal Indemnity Legal indemnity insurance including Commercial Legal Indemnity, Residential Legal Indemnity, Right of Light, and Title to Shares and/or Real Estate, underwritten by DUAL UK.
- Commercial Legal Indemnity Legal indemnity coverage for commercial properties and transactions, distributed via DUAL UK brokers.
- Residential Legal Indemnity Legal indemnity coverage for residential properties, underwritten by DUAL UK.
- Right of Light Insurance coverage for right of light disputes, distributed via DUAL UK brokers.
- Title to Shares and/or Real Estate Insurance coverage for title disputes on shares and real estate, underwritten by DUAL UK.
- Ashby Underwriting Branded underwriting product operating under the DUAL group, providing specialized underwriting services through its own brand.
- IPP Branded insurance product under the DUAL group portfolio, operating as IPP London with specialized underwriting services.
- KGM Branded underwriting product operating under the DUAL group, providing specialized underwriting services through KGM Underwriting Services.
- Magenta Insurance Branded insurance product under the DUAL group portfolio, operating as Magenta Insurance with specialized underwriting services.
- Tamesis Branded reinsurance product under the DUAL group, operating as Tamesis Reinsurance.
Quantifiable outcome
- £1.1bn Gross Written Premium processed through the platform
- +2 more outcomes
Companies that use DUAL Asset
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
DUAL Asset technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
DUAL Asset partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and branded.
- AXAcoreDUAL UK announced a new capacity partnership with AXA to support their Natural Resources product line. This partnership is designed to support the growth of renewable energy coverage, providing additional capacity backing for DUAL's Natural Resources insurance offerings.
- Ashby UnderwritingbrandedBranded product partner operating under the DUAL umbrella brand, providing specialized underwriting services
- IPP (IPP London)brandedBranded product partner operating under the DUAL umbrella brand
- KGM (KGM Underwriting Services)brandedBranded product partner operating under the DUAL umbrella brand
- Magenta InsurancebrandedBranded product partner operating under the DUAL umbrella brand
- Tamesis ReinsurancebrandedBranded reinsurance partner operating under the DUAL umbrella brand
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
DUAL Asset competitors and assessment
Company assessmentDirect peers
- Beazley: Beazley is a Lloyd's specialty insurer/MGA competing directly with DUAL in cyber, professional indemnity, marine liability, and financial lines. Its broker-distributed, specialty-risk focus and London headquarters put it in direct overlap with DUAL's core product set.
- Brit Insurance: Brit Insurance (part of Fairfax) is a Lloyd's and European specialty insurer/MGA competing in property, casualty, marine, energy and specialty lines that overlap directly with DUAL's product roster, including construction and financial lines.
- Markel International: Markel International is a specialty insurer and MGA-style underwriter operating across professional indemnity, marine, energy, and casualty lines — many of the same niches DUAL occupies. Its empowered underwriter culture mirrors DUAL's stated positioning.
- Aspen Underwriting: Aspen is a specialty insurer/MGA active across casualty, financial lines, marine and energy — overlapping with multiple DUAL product lines. Its London presence and broker-led distribution model place it as a direct competitor for the same specialty risks.
- Tokio Marine Kiln: Tokio Marine Kiln is a Lloyd's specialty insurer/MGA operating in energy, construction, marine, and commercial lines. Its London-Lloyd's positioning and specialty underwriting focus place it squarely within DUAL's competitive set across energy, construction and commercial lines.
- Hiscox: Hiscox is a specialty insurer and MGA-style underwriter with a deep Lloyd's and US/EU presence across many of the same lines DUAL writes — professional indemnity, cyber, commercial combined, and specialty commercial. Its London market and broker-distributed model make it the closest large-cap comparable to DUAL's UK MGA platform.
- CFC Underwriting: CFC is a fast-growing specialty MGA particularly strong in cyber, professional indemnity and emerging risk lines — directly comparable to DUAL's Cyber and Financial Lines offerings. Its technology-driven, broker-distributed MGA model is the closest pure-MGA peer.
- Hamilton Insurance Group: Hamilton Insurance Group operates specialty insurance platforms at Lloyd's and in Bermuda, competing directly with DUAL in specialty and commercial underwriting through broker distribution. Its hybrid MGA-style platform is structurally analogous.
Broad incumbents
- Munich Re Specialty: Munich Re Specialty is a leading global reinsurer and specialty carrier that both provides capacity to MGAs like DUAL and directly underwrites specialty lines. Its dual role as capacity provider and competitor is structurally analogous to the position insurers like AXA occupy in DUAL's value chain.
- AXA XL: AXA XL is a large global specialty insurer; it is also a stated capacity partner of DUAL. As a broader incumbent it competes in many of the same product lines and could choose to disintermediate MGA distribution in favour of its own direct broker capability.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
DUAL Asset social profiles
Digital presenceDUAL Asset financial estimates
Financial estimateRevenue estimate
Valuation estimate
DUAL Asset leadership team
Management profileNumber of profiles
Profiles3 records
DUAL Asset subsidiaries and ownership
Company hierarchySubsidiaries5 records
DUAL Asset funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
DUAL Asset M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about DUAL Asset
What does DUAL Asset do?
DUAL UK operates as a Managing General Agent (MGA) that underwrites and distributes 27+ commercial and specialty insurance product lines on behalf of highly rated capacity providers (insurers and reinsurers). The company intermediates between capacity providers and a network of 3,700+ UK brokers, collecting £1.1bn in Gross Written Premiums, retaining commission and underwriting profit, and ceding remaining premiums to capacity backers.
Is DUAL Asset a public or private company?
DUAL Asset is a private company. It is classified as corporate owned and is currently operating.
When was DUAL Asset founded?
DUAL Asset was founded in 2013. It employs 51 to 100 people.
Where is DUAL Asset based?
DUAL Asset is headquartered in London, United Kingdom, in the Europe region.
How does DUAL Asset make money?
One revenue line is on record: insurance Underwriting and Premium Revenue.
Who are DUAL Asset's main competitors?
Direct peers on record are Beazley, Brit Insurance, Markel International, Aspen Underwriting, Tokio Marine Kiln, Hiscox, CFC Underwriting and Hamilton Insurance Group. Broad incumbents are Munich Re Specialty and AXA XL.
Does DUAL Asset have an API?
No public API is recorded for DUAL Asset.
What industry is DUAL Asset in?
DUAL Asset's product category is Specialty Insurance Underwriting (Managing General Agent). Its primary akta.pro industry code is FSAEADAK, Insurance Program Administration & MGA/MGU Services. Its NAICS code is 5242 and its SIC code is 6411.