15 February 2021Insurance

Castel acquires Belgium-based MGA from StarStone in Europe push

Managing general agent formation platform Castel has acquired Belgium-based specialist accident and health (A&H) MGA Arena from StarStone Group in a move to expand its footprint in Europe.

Arena has been acquired by Castel Underwriting Europe, which was established in 2018 to support specialty underwriting cells and individual underwriters with books of niche business across Europe.

The MGA will join other Castel Europe divisions Transact, which provides tailored warranty and indemnity and tax risk insurances for European-based organisations, and Castel Marine, which writes Dutch and Belgian domiciled marine cargo, hull, land-based equipment and liability business, based in Rotterdam.

Arena has been servicing a range of sports clubs and federations in Belgium for over 25 years providing A&H and related liability coverages. Its managing director Eddy Van Den Bosch and his team based in Brussels will all transfer to Castel Europe.

Gert van Middelkoop, chief underwriting officer of Castel Europe, said: “Arena has a strong presence in Belgium built on the team’s expert knowledge and understanding of client needs in this specialist area of the A&H market. Their niche focus makes them an important addition to our European portfolio and provides opportunities for us to bring Arena’s expertise and products to other European markets.”

Mark Birrell, chief executive officer of Castel, added: “The expansion of our footprint in Europe is a core part of our strategy and behind our initial investment in our European platform. We anticipate opening up more European offices to both offer existing and new products to our expanding broker network across the continent.”

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