Castel Europe expands European Accident and Health capabilities with Arena acquisition
15 February 2021
15 February 2021 - Castel Underwriting Europe B.V. (Castel Europe), the European subsidiary of Castel Underwriting Agencies Limited (Castel), has today announced the acquisition of Arena N.V. (Arena), the Belgian-based specialist accident and health (A&H) MGA from StarStone Group for an undisclosed sum.
Arena has been servicing a range of sports clubs and federations in Belgium for over 25 years providing A&H and related liability coverages. Arena managing director Eddy Van Den Bosch and his team based in Brussels will all transfer to Castel Europe.
Castel Europe was established in 2018 by Castel Underwriting Limited to support specialty underwriting cells and individual underwriters with books of niche business, across Europe. Arena will join other Castel Europe divisions Transact, which provides tailored warranty and indemnity and tax risk insurances for European-based organisations, and Castel Marine, which writes Dutch and Belgian domiciled marine cargo, hull, land-based equipment and liability business, based in Rotterdam.
Commenting on the acquisition, Gert van Middelkoop, chief underwriting officer of Castel Europe, said: “Arena has a strong presence in Belgium built on the team’s expert knowledge and understanding of client needs in this specialist area of the A&H market. Their niche focus makes them an important addition to our European portfolio and provides opportunities for us to bring Arena’s expertise and products to other European markets.”
Mark Birrell, chief executive officer of Castel, added: “The expansion of our footprint in Europe is a core part of our strategy and behind our initial investment in our European platform. We anticipate opening up more European offices to both offer existing and new products to our expanding broker network across the continent.”
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Notes to editors
Castel Underwriting Europe B.V., is a subsidiary of Castel Underwriting Agencies Limited and authorised and regulated by the Autoriteit Financiële Markten, (AFM), under licence number 12046122.
Arena N.V. is authorised and regulated by the Belgian Financial Services and Markets Authority. Company registered in Belgium No. BE 0449.789.592 and Insurance Intermediary certified under number FSMA 10.365
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.