Castel Underwriting launches political risk book
Castel Underwriting Agencies, an MGA formation platform that supports individual underwriters with smaller books of niche business, has expanded its Castel Specialty portfolio with the addition of a political risk book.
Castel Political Risk will be led Tom White, who was previously senior underwriter at ANV (now AmTrust) where he helped 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.
The new unit will primarily underwrite contract frustration and political risk coverages, typically focusing on business in Latin America, the Middle East and Africa.
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.”
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.”
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