Howden’s DUAL Acquires Equestrian Specialist MGA David Ashby Underwriting

DUAL, the London-based managing general agent, announced the acquisition of David Ashby Underwriting Ltd. (DAU), an MGA that specializes in bloodstock and high value sports horse insurance.

Financial details of the deal were not disclosed. DUAL said, the acquisition cements its position as a leader in the bloodstock underwriting arena, providing insurance solutions across multiple territories.

DAU was formed in 2020 following David Ashby’s acquisition of Amlin’s bloodstock and livestock book, supported by Blunt Palmer Brown Ventures (BPB). It provides cover in thoroughbred bloodstock, commercial breeding, rearing and racing, and high value sports horses. DAU’s team of 10, including 8 underwriters, will join DUAL with immediate effect.

“Joining with David and his expert team deepens our connection to the equestrian world, and makes us a true differentiator in this exciting market. DUAL now provides world-class expertise in all the major equine markets, and we will continue to leverage our expertise to provide more choice and a fresh alternative for clients,” commented David Howden, CEO, Howden.

“The acquisition positions DUAL as one of the London market’s leading bloodstock underwriters,” said Richard Clapham, CEO of DUAL Group. “[W]e look forward to seeing David build on Ashby’s existing business, as well as identifying new opportunities to grow.”

“We are excited to join DUAL. Not only are they one of the largest and most diverse MGAs in the world, they also share our focus on excellence in underwriting. We did not choose our future home lightly, and I am looking forward to working with Richard and the DUAL team,” according to David Ashby.

“The board is very grateful for David and his team’s hard work and we wish them all the best in their future at DUAL. We have enjoyed working together and are happy they are joining a firm with such a strong commitment to bloodstock,” said Jonathan Palmer Brown of BPB.

Established in 1998, DUAL group is the specialist underwriting arm of Howden Group, writing US$3.2 billion of gross written premiums. The MGA employs more than 1,300 people in 20 countries across the Americas, Europe and Asia Pacific, and is one of the largest international coverholders at Lloyd’s. DUAL Europe operates from 15 locations in 11 countries.

Source: DUAL

Topics Mergers & Acquisitions Underwriting Insurance Wholesale