Castel appoints new independent Non-Executive Chairman
2 July 2018: Castel Underwriting Agencies Limited (Castel), the club-style MGA formation platform, has appointed Bob Cowdell as its first independent Non-Executive Chairman.
Cowdell is currently a Non-Executive Director (NED) at Castel, having joined the firm earlier this year. He holds a number of other NED roles, which have previously included roles at XL Catlin and he is also a former Managing Director and Head of Financials at RBS Hoare Govett.
The move is a further strengthening of the Castel board and governance, as it looks to expand both in the UK and European markets.
Last month, Castel opened its first European branch office in Amsterdam, with the aim of targeting European opportunities post-Brexit. The office will provide a platform to develop and launch specialty underwriting cells in Europe.
Cowdell assumes the role from Jon Godfray who has served as Chairman since Castel’s formation in 2013.
Castel’s CEO, Mark Birrell said: “Since joining Castel, Bob’s experience in driving successful growth has been very evident. His leadership in this arena comes at a crucial time as we start to expand our footprint in Europe. I would like to thank Jon Godfray for his outstanding contribution to Castel. The business has grown significantly under his chairmanship, despite the challenges of prevailing markets.”
Bob Cowdell added: “Castel provides an environment for talented, entrepreneurial underwriters in specialty markets to build their own businesses. The model is successful, and I look forward to the challenge of chairing the board and sharing my experience as we continue to build on our UK success and develop internationally.”
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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. London-based Castel has a branch office in Amsterdam. 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 political risk, 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.