Castel targets US professional liability business with launch of new underwriting cell North American Professional Liability
20 October 2021
20 October 2021– Castel Underwriting Agencies Ltd (Castel), has today launched a new underwriting cell, North American Professional Liability (NAPL) to focus on professional service firms’ business in the US.
The cell is writing both primary and excess layer coverage for larger risk managed clients including law firms, accountants, architects and engineers and construction risks. NAPL has secured capacity with a global A+ rated carrier and has commenced writing business immediately.
NAPL is jointly led by Patrick Comerford and Clive Moore both former directors and underwriters of Pioneer North America PL Ltd. Previously, Patrick Comerford led AIG and Lexington’s London market US PL team for nearly 20 years. Clive Moore was with Brit Insurance in their Lloyd’s US Pl team. With a combined 80 plus years in the insurance market they are amongst the most experienced underwriters in the Global Pl market.
Commenting on the launch of NAPL, Mark Birrell, chief executive of Castel, said: “Patrick and Clive are two of the best-known underwriters in this market. Working with them to help leverage their significant knowledge and experience demonstrates not only our appetite to extend Castel’s portfolio but also our ability to support a wide breadth of niche and specialty underwriting talent to delivery profitable business.”
Patrick Comerford added: “Castel provides us with a robust operating platform from which to build NAPL’s offering to brokers. The platform combined with committed capacity and a world-class claims operation will enable us to maximise the opportunities we see from the changing and hardening US professional lines marketplace.”
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, accident & health, political risk, marine, facultative reinsurance, and renewable energy.
- Construction and Engineering Centre of Excellence which supports construction and Inherent defect insurance.
- 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.
- Square Pegs which underwrites liability and property coverage for UK micro and small businesses via a dedicated e-trading portal
- Nirvana Risk Partners which underwrites media, technology and cyber liability risks for small and large enterprises on a global basis.
- 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.
Castel Underwriting Europe B.V. (Castel Europe) is the European subsidiary of Castel Underwriting Agencies Limited (Castel). Its divisions include Transact, which provides tailored warranty and indemnity and tax risk insurances for European-based organisations, Castel Marine, which writes Dutch and Belgian domiciled marine cargo, hull, land-based equipment and liability business, based in Rotterdam and Arena N.V., a Belgian-based specialist accident and health (A&H) MGA.