The primary focus will be (i) real estate transactions involving commercial real estate located in Australia, New Zealand, Hong Kong and Singapore and (ii) M&A transactions involving target companies and trusts across markets including Australia, New Zealand, Hong Kong, Singapore, Japan and South Korea
Sydney:
DUAL Australia today announced the launch of a new business line offered by DUAL’s specialist title insurance team, DUAL Asset.
The primary focus will be (i) real estate transactions involving commercial real estate located in Australia, New Zealand, Hong Kong and Singapore and (ii) M&A transactions involving target companies and trusts across markets including Australia, New Zealand, Hong Kong, Singapore, Japan and South Korea.
AXA XL, DUAL Asset’s long standing title insurance capacity partner, is providing capacity for the full product range via its Syndicate 2003 at Lloyd’s. Insurable limits of up to USD 150 m per policy are available.
The team will be led by Chris Hammond, Head of Asia Pacific for DUAL Asset.
The product range includes:
— Title to real estate (including the ability to cover identified issues or defects)
— Title to securities, such as shares, units and comparable ownership interests (including the ability to cover identified issues or defects)
— Fundamental warranty top-up insurance (also known as “excess W&I”).
Title insurance products are designed to help sellers, buyers and financiers manage and allocate certain legal and financial risks associated with (or identified during) a transaction process.
Dien Coates, CEO DUAL Asia Pacific, said: “DUAL Asset has a strong heritage of over 10 years as a leading provider of title insurance in the UK and mainland Europe and I am confident this provides great additional choice in this specialist sector.”
Chris Hammond said: “ This is the first step in building out a full transaction risk offering in the region, and we’re looking forward to expanding our portfolio later in 2024.”