DUAL Personal Lines has announced a new partnership with Homebound Insurance Exchange to strengthen its capacity offerings and broaden its geographic presence. This collaboration comes as the personal lines market continues to evolve, with carriers reassessing their market positions amid shifting conditions.
Expanding Coverage for Manufactured Homes and More
The partnership is set to enhance coverage availability for manufactured homes, dwelling fire, and homeowners insurance. Initially, the expansion will focus on Texas, with plans to roll out additional offerings across multiple states in the near future. While specific coverage details are still forthcoming, the collaboration aims to provide tailored solutions to meet the evolving needs of policyholders.
A Focus on Long-Term Stability
As part of the agreement, the partnership will introduce a member surplus contributions model, designed to bolster financial stability and ensure long-term security for policyholders. The move is particularly timely, as several insurance carriers have either scaled back their offerings or exited certain markets, leaving gaps in coverage availability.
According to Andy Swindall, chief personal lines officer at DUAL Personal Lines, the partnership reflects DUAL’s commitment to offering customized insurance solutions that align with client needs. “This collaboration enables us to expand our footprint while maintaining a strong focus on delivering stability and innovation in the personal lines sector,” Swindall said.
Personal Lines Growth Amid Market Challenges
Despite industry adjustments, the US personal lines sector has shown notable resilience and growth. In 2024, the property and casualty insurance industry saw direct premiums written increase by approximately 8.0%, with personal lines—particularly homeowners and auto insurance — leading the expansion.
DUAL North America also reported significant growth, surpassing $1.3 billion in gross written premium in 2024 across more than 40 insurance products. The broader personal lines market contributed to a $3.8 billion underwriting profit for the P&C industry in the first half of the year, marking a strong recovery from prior losses.
This rebound has been fueled by multiple rate adjustments, which have outpaced rising claims costs, leading to an improved combined ratio of 94.2% in Q1 2024. These factors indicate a stabilizing market, even as insurers refine their approaches to risk and underwriting.
As DUAL Personal Lines and Homebound Insurance Exchange move forward with this partnership, the focus remains on expanding market reach, improving financial security for policyholders, and addressing coverage gaps left by other carriers. The collaboration positions DUAL North America as a leader in adapting to market shifts while continuing to deliver high-quality personal lines insurance solutions.
