Dual has sold its Financial Lines and Cyber portfolio to Chubb Asia Pacific, which will include underwriting models and wordings in both Hong Kong and Singapore.

Dual, the specialist underwriting arm of Howden Group Holdings, says it remains committed to the Asia region and will to look for opportunities to promote business lines “where we see opportunities for growth and value for our clients”.

Dual Asia Pacific CEO Damien Coates says Chubb is strongly positioned to ensure continued expansion of the business.

"This sale is in the best interests of both our clients and employees,” Mr Coates said. “Chubb stood out as the preferred partner given their strong Financial Lines and Cyber expertise, cultural alignment, and strategic ties to Howden Group.”

Dual Underwriting and Operations Director Verone Shek takes the role of Chubb Underwriting and Operations Integration Manager, Financial Lines Asia under the deal, which is effective June 18.

DUAL Asia MD Mark Spadaccini will take a “well-deserved career break,” Mr Coates said, wishing him "all the best on his next adventure”.

Dual says it works with a network of over 8500 broker partners and is responsible for gross written premiums of $2.3 billion annually.