VK UNDERWRITING USES BARENTS RE FOR PROPERTY COVER

Miami-based managing general agent VK Underwriting, part of the DUAL Group, has entered the property insurance market, which VK Underwriting said was "the first step for the business in expanding its range of products beyond its core specialist liability lines". The company will use Panama-based Barents Re for the capacity. VK Underwriting managing director Matthew Kelly said that " The property market is one of the biggest product lines in commercial P&C in the (Caribbean and Latin American) region, so we believe that commercial property is the most logical new product offering to explore. VK Underwriting has a subsidiary in Puerto Rico and representative offices in Argentina and Mexico. Barents Re president and CEO Gerardo Garcia said that "we feel that VKU's philosophy closely matches our own, as well as the strategy and development of this underwriting unit." Barents Re is a regional Latin American reinsurer with a significant accident & health and credit & bond book.