Home Who we are News & Media Castel Specialty adds Political risk to its expanding Portfolio

Castel Specialty adds Political risk to its expanding Portfolio

London, 21 May 2018 – Castel Specialty, the division of club-style MGA formation platform Castel Underwriting Agencies Limited that supports individual underwriters with smaller books of niche business, has expanded its portfolio with the launch of Castel Political Risk.

Led by Tom White, Castel Political Risk will primarily underwrite contract frustration and political risk coverages, typically focusing on business in Latin America, the Middle East and Africa.

Mr White was previously senior underwriter at ANV, now AMTrust, where he helped to establish their political risk book. Prior to this he was political risk underwriter at Liberty Syndicates and spent a number of years at Willis Towers Watson within their political risk team.

Mark Birrell, chief executive of Castel, said: “Tom has both broking and underwriting expertise in this niche class. This experience, combined with our dedicated infrastructure support, will enable him to access the specialist brokers and markets required to build a strong-performing book of business.”

Tom White commented: “Castel Specialty has proven experience in launching and developing niche businesses. Their approach means underwriters can focus on underwriting whilst Castel takes care of all key operational aspects such as capacity provision and business support services.”

Castel Specialty provides the infrastructure, capacity and business support required to enable experienced underwriters to begin underwriting their own books of business within weeks. Underwriters are rewarded and incentivised according to the profitability of their individual books of business.