DUPI MGA Invest BV acquires Orca Insurance Agency A/S

2021-01-06 | DUPI Underwriting Agencies

On 22 December 2020 Neon Holdings (U.K.) Limited (‘Neon’) and DUPI MGA Invest BV (‘DUPI’) formally agreed a transaction in which DUPI acquires 100% of the issued share capital of Orca Insurance Agency A/S from Neon.

We are delighted that our expansion in the Nordic marine marketplace will be further bolstered.

Neon and DUPI believe that with this transaction best serves the interests of its stakeholders, including brokers and clients. Upon completion of this transaction Orca Insurance Agency A/S will be renamed in DUPI Underwriting Agencies Nordics A/S.

Matthew Washington, CEO Neon Holdings: “We are delighted to have agreed a transaction with DUPI for the sale of Orca. Following Neon’s exit from the Danish marine market, this transaction provides excellent continuity of service for regional brokers and clients alike through the extensive experience of the existing Orca team led by Lars and Henrik.”

For DUPI, Copenhagen is an excellent base to extend its Marine and CAR/Engineering capabilities and establishing a significant presence in the Nordics, with increased scale and enhanced relevance to our brokers and clients, supporting our ambition to be THE Insurer of Choice for Entrepreneurs.

 

Lars Hendriksen and Henrik Pilegaard team up for the Nordics with DUPI Underwriting Agencies

All employees from Orca will continue in the employment of DUPI, Lars Hendriksen will continue as the Managing Director/Partner of DUPI Underwriting Agencies Nordics and Henrik Pilegaard as Underwriting Director/Partner.

Lars Hendriksen, CEO Orca Insurance Agency: “It has been a pleasure working together with Neon establishing Orca and we both part in the best interest and understanding, now we shall continue an exciting new journey with DUPI MGA towards new great achievements. We believe together with DUPI we have a valuable offering differentiating ourselves from our competitors and we are proud to join DUPI offering our clients an excellent service going forward.”

Based in Copenhagen, DUPI Underwriting Agencies Nordics will focus on the Nordic markets, offering Marine risk solutions including other specialty insurance products worldwide, as well as risk consultancy and engineering services for the shipping industry.

In addition, working closely together with the DUPI underwriting and business development teams in The Netherlands, Lars and Henrik will introduce a wider range of insurance products and services, such as Charterers’ Liability, Specialist P&I, Construction All Risks and Engineering.

DUPI Underwriting Agencies Nordics A/S will continue to be located at Bredgade 65, 2nd floor, 1260 Copenhagen, Denmark and available at +45 (0) 3525 0360.

All procedures, financial and administrative processes and agreements remain unchanged. The transaction does not affect existing policyholders and valid claims will continue to be dealt with in line with policy terms and conditions. Detailed information will follow soonest.