Castel Underwriting Europe B.V. has agreed to acquire the renewal rights for a Navigators Europe book of predominantly of Dutch marine cargo, inland hull, land-based equipment and liability business from The Hartford.
Navigators Europe is the trading name of the Bracht, Deckers & Mackelbert NV (BDM)/ASCO Continentale Verzekeringen NV (ASCO), Rotterdam marine business.
Details of the transaction were not disclosed.
The Navigators Europe marine underwriting team based in Rotterdam will transfer to Castel Europe under the agreement, ensuring all relevant business continues to be handled by the same underwriting team. The team will continue to be led by Duco Teijema, as Marine manager, Netherlands. Duco will report into Gert van Middelkoop, head of Castel’s Marine Centre of Excellence.
Mark Birrell, chief executive of Castel, said this renewal rights agreement brings into Castel, the skills, experience and products needed to support its European expansion plans.
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.
Castel Europe provides a platform for specialty underwriting cells and supporting individual underwriters with books of niche business across Europe. Castel Underwriting Agencies Limited is part of Arch Insurance International.
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