Newbridge capacity deal targets political violence market
London, 9 November 2017 – Newbridge Risk Partners (Newbridge), an underwriting cell on the Castel MGA formation platform, has secured a new binder with Lloyd’s and London company market capacity to support the continuing growth of its political violence and terrorism insurance and reinsurance business. The new capacity being provided by market leaders Chaucer Syndicates and Markel International Insurance Company, enables Newbridge to offer physical damage, business interruption and liability coverage with limits up to USD20,000,000 for operational and construction risks on a wide spectrum of political violence and terrorism products, on a non-referral basis.
Chris Kirby, principal partner of Newbridge, said: “Being able to attract capacity from such respected and prominent markets reflects our success in delivering solid results through a broad range of distribution channels.”
“Newbridge’s focus on underwriting industrial and commercial risks in emerging markets addresses the needs of a client base that requires more than a one size fits all product and appreciates a partner they can approach either directly or through a local intermediary.
“Our new capacity partners value the team’s underwriting and territorial expertise and our ability to react quickly in these changing environments to provide strong growth with profitable results.”
For further information, please contact:
Full Circle Communications Alex Wise Mobile +44 (0) 7710 665 615 Tel: +44 (0)20 7265 7887 Email firstname.lastname@example.org
Notes to editors
Castel Underwriting Agencies Limited, part of Barbican Insurance Group, is a managing general agent (MGA) and club-style MGA formation platform focused on achieving success and driving innovation through collaboration. It provides experienced and entrepreneurial underwriters with stable capacity and a fast-track route to creating their own businesses. Castel is authorised and regulated by the Financial Conduct Authority.
Learn more about Castel at www.castelmga.com.
Castel’s underwriting cells include:
- Altitude Risk Partners, which underwrites airlines, aerospace manufacturing products, general aviation, war and space business.
- Castel Specialty which supports talented and entrepreneurial individual underwriters who have smaller books of niche business including forestry physical damage, construction all risks and inherent defects insurance and M&A and tax warranty and indemnity covers.
- Medical & Commercial International (MCI) which underwrites general medical and pharmaceutical liability business on an international basis.
- Newbridge Risk Partners which underwrites a political violence portfolio focused on emerging markets - MENA, Sub-Saharan Africa, Latin and South America and Asia regions.
- Nirvana Risk Partners which underwrites media, technology and cyber liability risks for small and large enterprises on a global basis.
- Vecta Risk Partners which underwrites specialist group and individual accident & health, travel and lifestyle coverages distributed through brokers and affinity e-trading platforms.
- Verve Risk Partners which underwrites US professional and management liability risks, focusing on insurance companies and captives as well as insurance agents and brokers.
- Yachtpod Risk Partners which underwrites specialist coverages including hull and machinery, increased value, war, medical expenses, mortgagee’s interest and loss of charter hire risks for superyacht owners, captains, and managers on a worldwide basis.