DUAL expands into forestry sector with new hire

DUAL, the underwriting arm of Howden Group Holdings, has made a new hire to expand its product offering into forestry, serving clients in the timber and paper and pulp production sectors, as well as pension funds and other investors.

Gordon Steward as managing director for forestry. He joins from White Oak Underwriting Agency, where he managed the Forestry business. He has 35 years of experience, in Lloyd’s, UK retail and international markets, having held roles at Weald Risk Partners, Castel, IGI, Catlin Syndicate 2003, Forest Re, Allianz Global and QBE.

At DUAL Steward reports to Richard Clapham, DUAL Group’s chief executive officer. He focuses on small, medium to medium-large forestry companies in the southern hemisphere markets of South Africa, Australia, Chile, Uruguay, South East Asia and New Zealand. Typical perils include fire, lightning, explosion and aircraft (FLEXA), wind (non-accumulating zones) and sub limited perils, typically: frost, hail; snow damage; debris removal; and firefighting costs.

Clapham said: “Forestry is a niche but increasingly important product that seeks to de-risk forest assets for investors and plantation owners. Gordon is a well-known market leader in Forestry insurance and has unparalleled experience in this sector, making this a great fit for DUAL with our focus on underwriting expertise.”

Steward praised DUAL’s “entrepreneurial culture and extensive distribution,” vowing to “grow the portfolio profitably while ensuring we support our existing partners and clients with a high level of engagement and service. ”

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