Castel opens Dutch branch office to support European MGA growth
29 May 2018 – Castel Underwriting Agencies Limited (Castel), the club-style MGA formation platform, has opened its first branch office in Amsterdam to support plans to expand its operations in Europe. Registered with the Dutch Authority for the Financial Markets (AFM), Castel’s European office provides a platform to develop and launch specialty underwriting cells, as well as supporting individual underwriters with books of niche business, across Europe.
Castel Transact, a division of Castel Specialty, which provides tailored warranty and indemnity and tax risk insurances for European-based organisations, is the first cell to operate from this branch office.
Mark Birrell, CEO of Castel, said: “Opening our Amsterdam branch office is an important milestone in our growth strategy. Building on the success of our MGA formation platform in the UK, we are looking to support niche underwriters operating in Europe to establish their own businesses. This also enables Castel to focus on the identification and development of European opportunities post Brexit.”
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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.