Castel Underwriting Agencies Limited, the club-style MGA formation platform, has appointed Bob Cowdell as its first independent Non-Executive Chairman.
Cowdell takes over from Jon Godfray, who has served as Castel’s Chairman since the formation of the company in 2013.
Castel hired Cowdell as a Non-Executive Director (NED) in May 2018, and he also currently holds a number of other NED roles, including at Thomas Miller Holdings, Real Estate Credit Investments (RECI), and Schroder UK Growth Fund.
Previously, he has also served as a NED at XL Catlin, and was former Managing Director and Head of Financials at RBS Hoare Govett.
Castel says the appointment will further strengthen its board and governance as it looks to expand in both the UK and European markets, having recently opened its first European branch office in Amsterdam in preparation for the UK’s departure from the European Union (EU).
The office will allow Castel to target European opportunities post-Brexit, and will provide it with a platform to develop and launch specialty underwriting cells in Europe.
Mark Birrell, Chief Executive Officer (CEO) at Castel, commented: “Since joining Castel, Bob’s experience in driving successful growth has been very evident. His leadership in this arena comes at a crucial time as we start to expand our footprint in Europe.
“I would like to thank Jon Godfray for his outstanding contribution to Castel. The business has grown significantly under his chairmanship, despite the challenges of prevailing markets.”
Cowdell added: “Castel provides an environment for talented, entrepreneurial underwriters in specialty markets to build their own businesses. The model is successful, and I look forward to the challenge of chairing the board and sharing my experience as we continue to build on our UK success and develop internationally.”
