Castel enters Renewable Energy market
15 December 2020
15 December 2020 –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.”
For further information, please contact:
Full Circle Corporate Communications
Mobile +44 (0) 7710 665615
Tel: +44 (0)20 7265 7887
Notes to editors
Castel Underwriting Agencies Limited, part of Arch Insurance International, is an independent trading company and 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. Learn more about Castel at www.castelmga.com.
Castel’s underwriting cells include:
- Specialty Centre of Excellence which supports talented and entrepreneurial individual underwriters who have smaller books of niche business including bloodstock risks, political risk, marine, renewable energy and global property facultative reinsurance.
- Construction and Engineering Centre of Excellence which supports construction and Inherent defect insurance.
- Warranty and Indemnity Centre of Excellence which supports Western European M&A transactions and tax risk insurance for liabilities in Europe.
- Marine Centre of Excellence which supports marine cargo, hull and liability classes of business in the UK and continental Europe with offices in London and Rotterdam.
- Nirvana Risk Partners which underwrites media, technology and cyber liability risks for small and large enterprises on a global basis.
- Vecta Risk Partners which underwrites specialist group and individual accident & health, travel and lifestyle coverages distributed through brokers and affinity e-trading platforms.
- Verve Risk Partners which underwrites U.S. professional and management liability risks, focusing on insurance companies and captives as well as insurance agents and brokers.
- Yachtpod Risk Partners which underwrites specialist coverages including hull and machinery, increased value, war, medical expenses, mortgagee’s interest and loss of charter hire risks for superyacht owners, captains, and managers on a worldwide basis.