Castel Underwriting Agencies Ltd. has launched a new underwriting cell, North American Professional Liability (NAPL), to focus on professional service firms’ business in the U.S.
The cell is writing both primary and excess layer coverage for larger risk managed clients including law firms, accountants, architects and engineers and construction risks. NAPL has secured capacity with a global “A+”-rated carrier and has commenced writing business immediately.
NAPL is jointly led by Patrick Comerford and Clive Moore both former directors and underwriters of Pioneer North America PL Ltd. Previously, Comerford led AIG and Lexington’s London market U.S. professional liability team for nearly 20 years. Moore was with Brit Insurance in its Lloyd’s U.S. professional indemnity team. With a combined 80 plus years in the insurance market they are amongst the most experienced underwriters in the global Pl market, said Castel.
“Patrick and Clive are two of the best-known underwriters in this market. Working with them to help leverage their significant knowledge and experience demonstrates not only our appetite to extend Castel’s portfolio but also our ability to support a wide breadth of niche and specialty underwriting talent to delivery profitable business,” commented Mark Birrell, chief executive of Castel.
“Castel provides us with a robust operating platform from which to build NAPL’s offering to brokers,” said Comerford. “The platform combined with committed capacity and a world-class claims operation will enable us to maximize the opportunities we see from the changing and hardening U.S. professional lines marketplace.”
London-based Castel Underwriting Agencies Ltd., part of Arch Insurance International, is an independent trading company, managing general agent and club-style MGA formation platform. It provides experienced and entrepreneurial underwriters with stable capacity and a fast-track route to creating their own businesses. Castel is authorised and regulated by the UK Financial Conduct Authority.
Source: Castel Underwriting Agencies
Topics USA Underwriting New Markets
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