DUAL

DUAL Reinsurance is the treaty reinsurance arm of DUAL Group, specializing in excess-of-loss structures globally. It operates under the specialist MGA “Tamesis DUAL,” which offers expert reinsurance across major asset-based classes.

History of DUAL Reinsurance

DUAL Reinsurance launched in 2012 with the creation of its treaty reinsurance arm, Tamesis. It was the first multi-line treaty reinsurance MGA focused only on excess-of-loss solutions.

The business quickly earned a name for strong risk control and global reinsurance capacity. Here are more key moments in DUAL Reinsurance’s history:

• 2012: Tamesis DUAL was launched as a multi-line treaty reinsurance MGA
• 2021: Howden invested $84 million underwriting capital into Tamesis DUAL
• 2021: DUAL Group, its parent company, acquired Align Financial to expand North American reach
• 2023: DUAL Europe acquired Swiss Re’s Genoa-based marine reinsurance team
• 2023: DUAL became part of a unified Howden brand across global operations
• 2024: DUAL operated in 21 countries with $3.5 billion in gross written premium

DUAL Reinsurance’s most recent milestone shows its global growth and strategic focus on underwriting. It now works with over 70 capacity partners and writes around $235 million in reinsurance net premium.

Reinsurance products and services

DUAL Reinsurance, through its Tamesis division, focuses on treaty coverage with a specialty in excess-of-loss:

Treaty reinsurance lines

• marine: covers ships, cargo, and marine-related losses
• energy (onshore and offshore): protects oil and gas operations
• property (risk and catastrophe): covers property damage and disaster risks
• aerospace: supports aviation and satellite reinsurance
• fine art and specie: insures valuable goods and collectibles
• war, terrorism, and political risk: covers losses from unrest and conflict
• surety: backs bond losses and contract defaults
• cyber XL: covers large cyber and data breach losses
• composite XL: combines multiple risk types in one treaty
• retrocessional XL: provides reinsurance for reinsurers

Structural and capacity support

• excess-of-loss treaty: covers losses above a set amount
• multi-line and multi-peril support: applies across various risk classes
• composite and retrocessional structures: built for complex treaty needs
• capacity up to $15 million: offered per binder or program

DUAL Reinsurance offers global support with trusted capacity and flexible deal structures. It works closely with brokers and clients to build strong, lasting partnerships.

Culture and core values

DUAL Reinsurance fosters a people-first culture that values open input and empowered decision-making. It encourages every team member to bring their full self and grow within the organization.

Workplace environment and benefits

DUAL Reinsurance has a workplace shaped by independent spirit and a strong entrepreneurial feel. It gives people the freedom to use their talents and help others succeed, with added support like:

• family-first policies: support through life events, including flexible leave options
• health and well-being: includes private medical insurance and wellness coverage
• critical illness and life cover: financial protection for serious illness or life-changing events
• long service rewards: five-year milestones include reward choices such as company shares
• volunteer leave: paid time off to give back and support community causes

Team feedback is part of the culture and helps guide workplace improvements. Most employees feel proud of their role and see how it connects to company goals.

The Howden Foundation

DUAL, as part of the Howden Group, supports the work of its independent charity, The Howden Foundation. Their initiatives include:

• entrepreneurial solutions: funds bold and lifesaving local projects
• inequality programs: supports efforts that reduce social gaps
• People First Fund: matches staff donations and fundraisers
• Giving Back campaign: awards large grants to nonprofits

Launched in 2014, the Foundation expands Howden’s reach in doing good. Since 2020, it has been a shareholder, growing its power to help even more people.

Sustainability approach

DUAL Reinsurance builds action into its culture through ethical, smart, and healthy business practices. Its teams support local causes through fundraising, volunteering, and community-driven events. Helping others is tied to DUAL’s global spirit and entrepreneurial way of working.

The future at DUAL Reinsurance

Reinsurance revenue rose 30 percent in 2024, led by strong treaty growth in key regions. DUAL expanded with new talent and teams across markets like Singapore, Japan, and North America. Its focus on niche segments and smart hiring signals long-term ambition in global treaty reinsurance.

DUAL Reinsurance expanded its reach with strategic acquisitions, including portfolios from Allianz and Swiss Re. These deals added specialty depth in marine and PI lines while strengthening underwriting performance. The company aims to lead globally in treaty innovation by staying focused on smart and niche growth.