Castel acquires Dutch marine business from The Hartford
Castel Underwriting Europe, a subsidiary of MGA formation platform Castel Underwriting Agencies, has signed an agreement with The Hartford to acquire the renewal rights for Navigators Europe Rotterdam marine business.
The agreement includes a book predominantly of Dutch marine cargo, inland hull, land-based equipment and liability business. Navigators Europe is the trading name of the Bracht, Deckers & Mackelbert NV (BDM)/ASCO Continentale Verzekeringen NV (ASCO).
The Navigators Europe marine underwriting team based in Rotterdam will transfer to Castel Europe under the agreement. The team will continue to be led by Duco Teijema, as marine manager, Netherlands, who will report into Gert van Middelkoop, head of Castel’s marine centre of excellence.
The move follows the launch of Castel’s marine centre of excellence in June 2020, with teams in London and Rotterdam focused on all classes of marine business.
Gert van Middelkoop said: “In a market experiencing significant levels of change, being able to provide brokers and clients with continuity of cover and service is of crucial importance to us. Retaining the expertise and proven track record of Duco and his team is an important indicator of our commitment to the Dutch marine market. We are in a strong position to build our solutions in the Netherlands and across Europe.”
Mark Birrell, chief executive of Castel, said: “This renewal rights agreement is significant for us and enables Castel Europe to assume a leading position in the Dutch market. Importantly, it brings into Castel, the skills, experience and products needed to support the development and delivery of our European expansion plans which is a key part of our strategy.”
