Although the financial details of the deal were not disclosed, the acquisition solidifies DUAL’s position as a leader in the bloodstock underwriting arena and expands its capacity to provide comprehensive insurance solutions across multiple territories.
DAU was established in 2020 when David Ashby acquired Amlin’s bloodstock and livestock book with support from Blunt Palmer Brown Ventures (BPB). The MGA offers coverage in thoroughbred bloodstock, commercial breeding, rearing and racing, and high-value sports horses. Following the acquisition, DAU’s team of 10, including 8 underwriters, will seamlessly join DUAL.
David Howden, CEO of Howden, expressed his excitement about the new partnership, stating, “Joining with David and his expert team deepens our connection to the equestrian world and makes us a true differentiator in this exciting market. DUAL now provides world-class expertise in all the major equine markets, and we will continue to leverage our expertise to provide more choice and a fresh alternative for clients.”
Richard Clapham, CEO of DUAL Group, emphasized the significance of the acquisition, noting that it positions DUAL as one of the London market’s leading bloodstock underwriters. Clapham expressed optimism about David Ashby’s potential to build on the existing business and explore new opportunities for growth under DUAL’s leadership.
David Ashby, founder of DAU, conveyed his enthusiasm about joining DUAL, praising the MGA’s size and diversity, as well as its shared focus on excellence in underwriting. He expressed confidence in a fruitful collaboration with Richard and the DUAL team.
Jonathan Palmer Brown of BPB, on behalf of the board, conveyed gratitude to David and his team for their hard work, expressing good wishes for their future at DUAL. He highlighted the alignment of values and commitment to bloodstock, making the acquisition a positive move for all parties involved.
Established in 1998, DUAL group serves as the specialist underwriting arm of Howden Group, managing US$3.2 billion of gross written premiums. With a global presence, the MGA operates in 20 countries across the Americas, Europe, and Asia Pacific, boasting more than 1,300 employees. It stands as one of the largest international coverholders at Lloyd’s, with DUAL Europe operating from 15 locations in 11 countries.
The acquisition further strengthens DUAL’s position in the market and represents a significant step towards its continued growth and success in the insurance industry.
