International underwriting agency Dual’s title and legal indemnity business has signed a binder offering increased policy limits and greater geographical reach in Asia-Pacific, Europe and Latin America.

The capacity is led by Axa XL and backed by Liberty, Chaucer, Axis and Intact.

Dual says the capacity – up to £320 million ($610.95 million) for a single real estate risk – enhances its ability to support complex cross-border transactions, and its cross-disciplinary structure enables multiline insurance that supports brokers and clients’ merger and acquisition cover needs.

International head of title and legal indemnity Dave Persaud has responsibility for driving growth in the key markets of Asia Pacific, the UK and Europe.

“This new binder is a significant milestone for our title and legal indemnity business, reflecting the strength of the team we’ve built and the reputation we’ve established over many years,” he said.

“With one of the most experienced title insurance teams in the market, combined with enhanced capacity and broader international reach, we can support clients and brokers with the flexibility and certainty they need.

“As title and legal indemnity insurance becomes an increasingly important component of cross-border M&A and real estate transactions, we are exceptionally well placed to help our clients navigate risk and unlock opportunities across multiple markets.”

Dual Group CEO Richard Clapham says the agency wants to be the leading title and legal indemnity operator, and the international binder is “an endorsement of that vision”.

Title and legal indemnity insurance protects buyers, lenders and investors against financial losses arising from defects, disputes or challenges to legal ownership of property or other assets. It is commonly used in corporate, real estate and infrastructure transactions to facilitate deals and manage transactional risk.

Axa XL head of title insurance for the UK and Lloyd’s Tariq Jawaheer says Dual has “built a strong reputation in this market and we're delighted to support them”.