Dual results bolstered by Australia and Germany
Niche insurer Dual Australia continues to gain a significant local market foothold, according to its parent Dual International. The information is detailed in the annual report of Dual’s UK-based owner, Hyperion, which has reported an increase in operating profit of 37% to £5.9 million ($14 million) for the 12 months to September 2006.
Dual Australia increased its gross written premium by 41%. The company expects strong growth in the professional liability market in Australia owing to the lack of liability insurance penetration into the SME market and growing awareness of the benefits of directors’ and officers’ cover.
The group now has 25 operations in 13 countries employing more than 370 people. Dual International increased its revenue by 69% to £12 million ($28 million).
Hyperion CEO David Howden says in the 12 years since the group was established, income has risen at an annual average of 37%. Profit before tax has risen by an even more impressive annual average of 57%.
Dual Australia increased its gross written premium by 41%. The company expects strong growth in the professional liability market in Australia owing to the lack of liability insurance penetration into the SME market and growing awareness of the benefits of directors’ and officers’ cover.
The group now has 25 operations in 13 countries employing more than 370 people. Dual International increased its revenue by 69% to £12 million ($28 million).
Hyperion CEO David Howden says in the 12 years since the group was established, income has risen at an annual average of 37%. Profit before tax has risen by an even more impressive annual average of 57%.