Castel Specialty adds political risk to its expanding portfolio

21 May 2018 – Castel Specialty, the division of club-style MGA formation platform Castel Underwriting Agencies Limited that supports individual underwriters with smaller books of niche business, has expanded its portfolio with the launch of Castel Political Risk. Led by Tom White, Castel Political Risk will primarily underwrite contract frustration and political risk coverages, typically focusing on business in Latin America, the Middle East and Africa.

Mr White was previously senior underwriter at ANV, now AMTrust, where he helped to establish their political risk book. Prior to this he was political risk underwriter at Liberty Syndicates and spent a number of years at Willis Towers Watson within their political risk team.

Mark Birrell, chief executive of Castel, said: “Tom has both broking and underwriting expertise in this niche class. This experience, combined with our dedicated infrastructure support, will enable him to access the specialist brokers and markets required to build a strong-performing book of business.”

Tom White commented: “Castel Specialty has proven experience in launching and developing niche businesses. Their approach means underwriters can focus on underwriting whilst Castel takes care of all key operational aspects such as capacity provision and business support services.”

Castel Specialty provides the infrastructure, capacity and business support required to enable experienced underwriters to begin underwriting their own books of business within weeks. Underwriters are rewarded and incentivised according to the profitability of their individual books of business.

ENDS

For further information, please contact:

Full Circle Communications Alex Wise Mobile +44 (0) 7710 665 615 Tel:  +44 (0)20 7265 7887 Email awise@fullcirclecomms.co.uk

Notes to editors

Castel

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 political risk.
• 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.