Castel taps independent director to support expansion and growth plans

Castel Underwriting Agencies, a managing general agent (MGA) formation platform, has appointed Bob Cowdell as its first independent non-executive director to support its expansion and growth plans.

Cowdell currently holds a number of non-executive director roles including at Thomas Miller Holdings, where he chairs the audit committee and as chairman of Real Estate Credit Investment. He has also held non-executive director roles at XL Catlin, where he chaired the audit committee and sat on the risk and reserving committee for their UK group companies.

Cowdell has experience in advising Lloyd’s underwriters, and general and life insurance companies on achieving growth, both through acquisition and organically across rating and investment cycles. He is a former managing director of RBS Global Banking and Markets and was head of financials at Hoare Govett, where he was responsible for financial sector corporate broking and equity capital market activities.

Castel is seeking to expand the range and scope of its underwriting cells and plan further growth across specialty lines markets.

Castel CEO Mark Birrell said: “Bob brings a wealth of experience to Castel. He has a recognised track record for contributing to building and transforming insurance businesses by successfully driving performance, business efficiency and management development. Bob’s appointment supports our continuing expansion and growth plans and is a further indication of our commitment to attracting and supporting the highest quality of talent in the market.”

Cowdell said: “Castel has created a successful operating model that enables underwriting talent to thrive and build profitable businesses. It has also built a strong reputation amongst capacity providers for understanding their needs and maximising the opportunities that MGAs can deliver in niche and specialty markets. I look forward to working with Mark and the team to sustain and build on this success.”

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