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.
The company plans to underwrite a book of marine, construction and operating risks, business interruption, general liability, sabotage, terrorism and theft losses and natural catastrophe coverages.
As part of this expansion, Castel has added Garrod Hill to its new underwriting cell, which is set to commence underwriting immediately.
Hill is a former Executive Vice President of Albus Underwriting, a firm that specialised in insurance solutions for the renewable energy sector.
Mark Birrell, chief executive of Castel, commented: “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,” Birrell added.
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.
