Van Gieson to lead fourfold expansion at Hyperion’s Dual

Bob Van Gieson has been appointed chairman and chief executive of Dual International, the underwriting agency arm of the 3i-backed Hyperion Group, as it plans to quadruple in size.

Van Gieson joins from Arch Insurance Company Europe, where he was president and chief executive. Former employers include CNA Financial and Chubb. Arch provides the capacity to Dual.

He replaces Stephen Crowther, who has been on the board for 11 years. David Howden, chief executive of Hyperion, said it had always been the plan for Crowther to steer the business through getting private equity backing, which was achieved last April, and then step aside.

Van Gieson has been charged with expanding Dual from €125m to €500m premium income, with plans to expand product lines and enter new UK regions and overseas territories.

Howden said: “The idea was always that Stephen would step aside and we would bring in a big hitter to help us and 3i take the business to where we want it to be. It was the right time for him to hand over the reins to someone who could launch the next stage of growth.”

Dual’s expansion plans centre around organic growth and bringing in new teams, rather than making outright acquisitions. The underwriting agency specialises in business risks such as D&O and professional liability.

Van Gieson said: “I have been associated with Dual and Hyperion since I returned to London in 2003 to help Arch build its international presence and since then I’ve witnessed the group go from strength to strength. I’m excited to be part of the group’s future and look forward to helping Dual achieve its next stage of growth.”

3i took a 27% shareholding in Hyperion in April 2008. Other backers are BP Marsh & Partners and Murofo Investments SL.

Bob Van Gieson will be a guest speaker at the Insurance Times Leaders Forum at the Hilton Tower Bridge on 15 October. Details at insurancetimes.co.uk/digital/itforum2009