The partnership will focus on coverage for manufactured homes, dwelling fire, and homeowners insurance.
The initial expansion will focus on Texas, with plans to extend the offerings to additional states. Details on specific coverages are expected to be announced as the company moves forward with its expansion.
Andy Swindall (pictured above), chief personal lines officer at DUAL Personal Lines, said the collaboration allows DUAL to offer tailored insurance solutions that align with the needs of its clients.
The collaboration introduces a member surplus contributions model, which the companies say will provide financial stability and long-term security for policyholders. The agreement comes at a time when several carriers have been scaling back or withdrawing from certain markets.
Despite the carrier scale-back, the personal lines insurance sector in the US experienced notable developments characterized by financial growth, market recovery, and ongoing challenges.
The US property and casualty insurance industry saw direct premiums written grow by approximately 8.0% in 2024, with personal lines, particularly auto and homeowners' insurance, driving this expansion.
DUAL North America itself reported over $1.3 billion in gross written premium in 2024 across more than 40 insurance products.
Also worth noting was a significant turnaround in the personal lines segment, which contributed to an underwriting profit of $3.8 billion for the P&C industry in the first half of 2024, marking a substantial recovery from previous losses.
The industry's combined ratio improved to 94.2% in the first quarter of 2024, driven by multiple rate increases in the personal lines sector, which outpaced claims costs.
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