DUAL INTERNATIONAL TO LAUNCH IN HONG KONG

The UK Hyperion Group has unveiled plans to launch an underwriting operation in Hong Kong through its DUAL International brand. It represents the Hyperion Group’s first announced business initiative since private equity firm 3i’s £50m investment earlier this month. The new Hong Kong operation, which is due to start trading in July, will focus initially on what it describes as its core area of expertise – directors’ and officers’ – but quickly intends to expand its professional indemnity offering, targeting small to medium risk companies. Damien Coates, managing director of DUAL’s operations in Australia, has been named head of Asia Pacific operations and will be supported in Hong Kong by Phil Chiu as general manager Asia. DUAL International’s executive chairman, Stephen Crowther, described Hong Kong as “an excellent springboard from which to expand further throughout the Asia Pacific region”. He added: “It is a challenging market place and we will be adopting a controlled approach to growth, seeking quality business rather than aiming for the high risk end of the market.”