Castel Underwriting Agencies Limited, has entered the renewable energy market with a new proposition primarily aimed at asset and revenue protection for wind and solar energy producers.
Castel will underwrite a book of marine, construction and operating risks, business interruption, general liability, sabotage, terrorism and theft losses and natural catastrophe coverages.
Garrod Hill, former Executive Vice President of Albus Underwriting, a firm that specialised in insurance solutions for the renewable energy sector, joins Castel with further appointments to the new underwriting cell to be announced. Castel will commence underwriting with immediate effect with ‘A’ rated capacity.
Mark Birrell, chief executive of Castel, said: “The combination of a growing demand for coverage of renewable energy assets and access to underwriting expertise with the direct experience and understanding of the sector’s needs fits with our strategy of supporting and building underwriting cells with niche lines. We are very confident this addition to the portfolio will deliver profitable business.”