Dual Asia Pacific MD Damien Coates will relocate to London after being promoted to CEO of Dual International, the underwriting arm of Hyperion Insurance Group.

Dual Australia COO Peter Bailey will assume full operational responsibility for Australia as Deputy MD. He will also retain his role as Asia Pacific COO.

Mr Coates, who as chairman of the Underwriting Agencies Council over the past two years is credited with driving its development, will replace Bob Van Gieson, who will become non-executive chairman of Dual International.

He told insuranceNEWS.com.au he will retain responsibility for the Asia-Pacific operation in his new London-based job.

“Around April I’ll be moving my family across to the UK,” he said. “I’ll be in Australia once a quarter.”

He says the development of the Asia-Pacific business remains vital for Dual International.

“This move will only strengthen the Asia-Pacific business,” he said. “It’s been my baby, but this is a once in a lifetime chance to be the CEO of a company that is planning to list on the London Stock Exchange.”

Dual International has offices in the UK, Ireland, Spain, Italy, Germany, Australia, Hong Kong, New Zealand and the Americas, and is also planning to set up in Singapore.