Superyacht specialist Yachtpod Risk Partners launches on Castel’s MGA platform

30 March 2017

PRESS RELEASE

Superyacht specialist Yachtpod Risk Partners launches on Castel’s MGA platform

London, 30 March 2017 – Yachtpod Risk Partners (Yachtpod) has launched today as an underwriting cell on the Castel Underwriting Agencies Limited (Castel) MGA formation platform to offer dedicated superyacht insurance on a world-wide basis.

Yachtpod specialises in providing a ‘one-stop’ shop for superyacht owners, captains, and managers on specialist coverages including hull and machinery, increased value, war, medical expenses, mortgagees interest and loss of charter hire risks, through an exclusive panel of trusted brokers.

The cell’s capacity is provided by a number of Lloyd’s syndicates and London insurance companies.

The Yachtpod team is led by principals Iain Cotton and Vladimir Mirosevic-Sorgo.

Iain Cotton has over 30 years’ experience in marine business classes, with senior class underwriting and broking positions in the Lloyd’s and London markets. Previously, he was a director of Lead Yacht Underwriters Limited, a wholly owned subsidiary of MS Amlin.

Vladimir Mirosevic-Sorgo is a former director and class underwriter of Lead Yacht. The majority of his 30 plus-year insurance career has been spent broking and underwriting superyacht and marine hull business.

Iain Cotton, partner at Yachtpod, said: “Castel recognises the potential that exists within this market to deliver profitable growth through providing experienced underwriting and claims handling, and a fast and efficient service. The MGA formation platform provides us with the operational and support services that reflect our service-driven culture.”

Mark Birrell, CEO of Castel said: “The launch of Yachtpod demonstrates the ability of our MGA platform to support specialist underwriters to establish and run their own businesses and optimise their growth potential. The Yachtpod team has an unrivalled reputation and proven track record. They are typical of the experienced and entrepreneurial underwriters that Castel supports."

ENDS

For further information, please contact:
Full Circle Communications

Alex Wise Mobile +44 (0) 7710 665 615
Tel:  +44 (0)20 7265 7887
Email awise@fullcirclecomms.co.uk

Notes to editors
Photography: Iain Cotton and Vladimir Mirosevic-Sorgo, principals at Yachtpod Risk Partners, the latest underwriting cell to launch on the Castel Underwriting Agencies Limited (Castel) MGA formation platform.


Castel
Castel Underwriting Agencies Limited, part of Barbican Insurance Group, is a managing general agent (MGA) and club-style MGA formation platform focused on achieving success and driving innovation through collaboration.  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 Financial Conduct Authority.
www.castelmga.com


Castel’s other underwriting cells include:
 
• Altitude Risk Partners, which underwrites airlines, aerospace manufacturing products, general aviation, war and space business.
• Medical & Commercial International (MCI) which underwrites general medical and pharmaceutical liability business on an international basis.
• Newbridge Risk Partners which underwrites a political violence portfolio focused on emerging markets - MENA, Sub-Saharan Africa, Latin and South America and Asia regions.
• Verve Risk Partners which underwrites US professional and management liability risks, focusing on insurance companies and captives as well as insurance agents and brokers.
• Castel Specialty which supports talented and entrepreneurial individual underwriters who have smaller books of niche business. The first product to launch was for forestry physical damage insurance.
• Vecta Risk Partners which underwrites specialist group and individual accident & health, travel and lifestyle coverages distributed through brokers and affinity e-trading platforms.