Axis Capital has agreed to acquire the renewal rights to Dual North America’s excess liability business to strengthen its casualty operations in the United States.

The transaction will give Axis, the Bermudian-based speciality re/insurer, the opportunity to offer renewal coverage to policyholders in Dual’s portfolio as their policies expire. Financial terms were not disclosed.

John Kopach, executive vice-president of excess liability at Dual, will join Axis as part of the agreement.

He will become head of wholesale lower middle market, succeeding Britt Smith, who retired from Axis this month. Mr Kopach will be based in Atlanta and report to Michael McKenna, head of North America.

Mr McKenna said: “This transaction reflects the strong partnership and strategic relationship that Axis shares with Dual, and we are enthused to add this high-quality excess liability book to our casualty platform.

“With this agreement, we are very excited to welcome John into the Axis organisation as head of our wholesale lower middle market unit.”

Axis and Dual said they would work together in the coming weeks to provide a smooth transition for brokers and policyholders, with little disruption to service.

Dual North America is a speciality programme administrator and part of Dual Group, the specialist underwriting arm of Howden Group.

It underwrites more than 20 programmes across casualty, commercial property, financial lines, personal lines and surety. The company transacted more than $1.2 billion in gross written premium last year.

Ed Ashby, chief executive of Dual North America, said the transaction would allow the company to concentrate on areas of its casualty business where it saw the most opportunity.

He added: “It positions Dual to double down on the parts of our casualty business where we see the clearest path to lead, while giving this book a strong home to keep building on what’s been achieved.

“John has done excellent work growing this business, and we’re grateful for his contributions to Dual. We wish him continued success at Axis.”