Castel Underwriting Agencies News

Arch Capital Group Finalizes Acquisition of Barbican Group Holdings

Arch Capital Group Ltd. announced the completion of its previously disclosed acquisition of Barbican Group Holdings Ltd. (Barbican), including Barbican Managing Agency Ltd., Lloyd’s Syndicate 1955, Castel Underwriting Agencies Ltd. and other associated entities. “We are excited to complete this …

London-Based MGA Castel Specialty Enters Construction and Engineering Market

Castel Specialty, the London-based division of club-style MGA formation platform Castel Underwriting Agencies Ltd., has entered the construction and engineering market, primarily focused on the UK, North America, Australia, Canada and other key territories. Heading up the new offering is …

MGAs Working with Insurtech Firms to Bolster Customer Centricity: Survey

Managing general agents (MGAs) are increasingly interested in working with insurtech firms to enable their businesses to become more customer-centric, according to a new survey of UK MGAs. More than 42 percent of survey respondents feel insurtech helps MGAs evolve …

UK MGA Castel Specialty Launches Global Property Facultative Reinsurance Cover

Castel Specialty, the division of club-style MGA formation platform Castel Underwriting Agencies Ltd., has added a global property facultative reinsurance offering to its portfolio. Paul Witzenfeld joins Castel Specialty to underwrite a book of global property facultative reinsurance business targeting …

Insurers Weigh Premium Hikes for UK’s Tall Buildings After Grenfell Tower Fire

Insurers are considering raising premiums for tall buildings in Britain with flammable cladding panels and no sprinklers or even excluding related risks following the Grenfell fire in London earlier this year. Inquiries into the tragedy, which killed up to 80 …

Castel Specialty Launches Global Construction Business

Castel Specialty, a division of Castel Underwriting Agencies Ltd., has expanded its portfolio with the launch of Castel Construction. London-based Castel Underwriting Agencies, part of Barbican Insurance Group, is a club-style MGA formation platform, which supports individual underwriters with smaller …

MGA Nirvana Targets Media, Technology & Cyber Risks on Castel Platform

Nirvana Risk Partners has launched as an underwriting cell on Castel Underwriting Agencies’ MGA formation platform, targeting media, technology and cyber liability risks. Nirvana will underwrite risks for small and large enterprises on a global basis with a particular emphasis …

Superyacht Specialist Yachtpod to Underwrite on Castel’s MGA Platform

Yachtpod Risk Partners has launched as an underwriting cell on the Castel Underwriting Agencies Ltd.’s MGA formation platform to offer dedicated superyacht insurance on a worldwide basis. Yachtpod specializes in providing a “one-stop” shop for superyacht owners, captains and managers …

Soft Market Is Main Factor Limiting Growth of UK MGAs: Survey

Soft market conditions have replaced regulation and compliance as the main factor affecting growth for UK managing general agents (MGA) in 2017, said a survey of members of the London-based Managing General Agents’ Association (MGAA). The soft market was cited …

‘Xuber for MGAs’ Platform Delivered for Castel Underwriting

Xuber, the insurance software business of Xchanging, a unit of CSC, announced the delivery of its “Xuber for MGAs” platform for London-based Castel Underwriting Agencies Ltd. Xuber for MGAs is a flexible digital platform that enables Castel to provide and …