Underwriting agency Dual Australia has expanded its Lloyd’s capacity with the introduction of Hiscox Syndicate 3624 as a 25% co-insurer.

The deal has been applied across Dual group operations in the UK, Ireland, Italy and Australia.

Dual International CEO Bob van Gieson says Arch Syndicate 2012 will continue as the group’s major underwriter, providing 75% capacity. The arrangement will be effective for all policies written on or after October 1.

Dual Australia MD Damien Coates says his company is seeking “to expand beyond our traditional financial lines products”.

He says there will be no change in the way Dual currently services its broking partners.

Mr van Gieson says the decision to go with Hiscox in the face of several competitive bids was based on its financial strength and security, “together with its appetite and willingness to develop a stable, long-term partnership”.