The move positions DUAL to offer a comprehensive range of underwriting resources and expertise catering to clients in both Commercial and Contract surety.
DUAL has partnered with specialty insurer AXIS Capital to provide these specialized services. The partnership includes securing delegated authority from AXIS Insurance Company for US surety business. AXIS, an Illinois-domiciled company, holds admission in all 50 states and the District of Columbia, boasting an impressive A.M. Best “A” rating and an “A+” S&P rating. The collaboration, coupled with available referral capacity, enables DUAL and its U.S. clients to access a Treasury Listing exceeding US$100 million.
Mark Farina and Brendan Keating, industry stalwarts with over 35 and 12 years of Surety experience, respectively, join DUAL North America as Executive Vice Presidents of Surety. Farina, previously Chief Underwriting Officer for a top 10 U.S. Surety organization, brings a wealth of industry insight. Keating, with a recent role as Senior Vice President and Chief Operating Officer at a top 10 U.S. Surety organization, further strengthens the leadership team.
Mark Farina works from New Jersey, while Brendan Keating is situated in Illinois. The remaining members of the Surety team will be strategically positioned throughout the United States, with key offices in New York, Houston, Denver, and Chicago.
DUAL has assembled a highly skilled and experienced team of 27 Surety professionals, including underwriters and engineers, to drive the success of its newly launched Surety division. This strategic expansion positions DUAL as a key player in the Surety market, leveraging expertise and partnerships to deliver unparalleled value to its clients.
Speaking about the move, John Johnson, CEO of DUAL North America, said: “Entering the Surety marketplace in such a significant way represents an important milestone in the execution of our strategic expansion and diversification plan at DUAL North America. This is an exceptional group of talented Surety industry professionals whose team structure of experienced underwriters, field engineers, and legal experts provides a uniquely deep in-house expertise.”
He continued: “Mark, Brendan, and the team are well-respected professionals in their field who share our values and philosophies which made DUAL an excellent fit to launch this program. I am thrilled to work with them to build a remarkable Surety business, which will offer our broker and carrier partners capabilities in this line of business that we believe are second to none. In AXIS, we are partnering with a company that is a proven specialist market with a strong global platform and established financial strength.”
Mike McKenna, Head of North America at AXIS Capital added: “We’re pleased to partner with DUAL and its exceptional team of proven Surety professionals. This partnership demonstrates our commitment at AXIS to be a global market leader in specialty insurance, working with knowledgeable, experienced partners to develop additional solutions that meet the needs of our clients.”
