Castel appoints Bob Cowdell as Non-Executive Director
14 May 2018 Castel Underwriting Agencies Limited (Castel), the club-style MGA formation platform, has appointed Bob Cowdell as its first independent Non-Executive Director (NED).
Cowdell currently holds a number of NED roles including at Thomas Miller Holdings Limited, where he chairs the audit committee and as Chairman of Real Estate Credit Investment Limited. He has also held NED roles at XL Catlin, where he chaired the audit committee and sat on the risk and reserving committee for their UK group companies.
Cowdell has a wide range of experience in advising Lloyd’s underwriters, and general and life insurance companies on achieving growth, both through acquisition and organically across rating and investment cycles. He is a former Managing Director of RBS Global Banking and Markets and was Head of Financials at Hoare Govett, where he was responsible for financial sector corporate broking and equity capital market activities.
The appointment comes as Castel continues to expand the range and scope of its underwriting cells and plans further growth across specialty lines markets.
Castel’s CEO, Mark Birrell said: “Bob brings a wealth of experience to Castel. He has a recognised track record for contributing to building and transforming insurance businesses by successfully driving performance, business efficiency and management development. Bob’s appointment supports our continuing expansion and growth plans and is a further indication of our commitment to attracting and supporting the highest quality of talent in the market.”
Bob Cowdell said: “Castel has created a successful operating model that enables underwriting talent to thrive and build profitable businesses. It has also built a strong reputation amongst capacity providers for understanding their needs and maximising the opportunities that MGAs can deliver in niche and specialty markets. I look forward to working with Mark and the team to sustain and build on this success.”
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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, M&A and tax warranty and indemnity covers and global property facultative reinsurance.
- 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.
- Weald Risk Partners which underwrites forestry and tree plantations globally, offering extensive technical expertise at a global level, including risk assessment and risk profiling, preparation of market presentations and programme design.
- 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.