DUAL UK is a specialist managing general agent (MGA) operating in the UK insurance market, with its construction insurance business expanding as it continues to expand into the mid-market sector.
The move expands the reach of its construction products and enables the company to support a wider range of commercial clients and brokerage partners.
The company has announced an increase in capacity for its construction projects CAR and refurbishment products, which are now capped at over £25m. Additional capacity is provided by AXA XL, Great American International Insurance (UK) Ltd and other A-rated capacity partners.
The expansion enables DUAL UK to extend its underwriting proposition beyond its existing SME customer base and support larger project and retrofit risks within the mid-sized business market.
The company has also increased the capacity available through its annual contractor product, enabling DUAL UK to consider businesses with a turnover of up to £50m and contract values ​​of up to £20m. Wider underwriting needs include terrorism protection, providing brokers with a wider range of construction insurance solutions.
Simon McGinn, CEO of DUAL UK, commented: “Our aim is to work closely with our selected partners to cement DUAL UK’s position as a leading MGA in the construction sector.
“The flexibility of our dedicated underwriting team provides our broker partners with a competitive advantage, which helps us stay ahead of other MGAs in this market. Our track record of balancing industry pressures, including soft market conditions and sustainable underwriting, positions DUAL well-positioned to adapt to the changing conditions of the construction industry, ensuring long-term value for our partners and clients.”
DUAL UK’s construction team is led by Steve Kelly, Managing Director Construction, who has over 35 years’ experience in the insurance sector. His background includes underwriting major construction risks across the EU, as well as extensive technical knowledge of the construction insurance market.
Kelly added: “The increase in DUAL UK’s construction project and annual product underwriting capabilities marks a huge step forward in our commitment to providing brokers with comprehensive insurance solutions and the opportunity to work with the wider business in the construction industry.
“This expansion comes at a critical time for the UK construction industry, which is expected to grow over the remainder of the decade after a challenging few years. By increasing capacity now, we are helping customers prepare for the recovery and seize new opportunities with confidence.
“Our team is built on industry-leading expertise, with clear and transparent risk appetite and robust training. These qualities set us apart in a highly competitive market where pricing remains stable and capacity continues to expand. They are a great platform to support the broader business with greater flexibility and enhanced underwriting parameters.”
DUAL UK said the additional capacity was being brought in amid a recovery in the UK construction industry. The industry has experienced pressures in recent years, including rising SME bankruptcies, reduced demand and ongoing skills shortages. However, improving economic conditions, an expected decline in interest rates and government initiatives focused on housing, planning and workforce development are supporting a more positive outlook.
The Construction Industry Training Council’s Outlook report predicts that UK construction industry output will grow by 1.6% in 2025 and average annual growth of 2.1% by 2029.
Alastair Baker, head of AXA XL’s UK and Lloyd’s International construction business, said: “We are delighted to be extending our relationship with Dual UK, providing them with additional capabilities to serve a wider range of clients. They are already a well-respected partner in this sector and we know their current and future clients will benefit from their expanded reach and increased expertise.”
Alec McFarlane, Head of Construction and Engineering at Great American International Insurance (UK) Limited, said: “DUAL’s underwriting team has extensive experience in the construction sector. We are delighted to be able to help meet their capacity needs and further build on our very positive relationship.”
