In a move which is expected to bolster plans for an expansion of operations in Europe post-Brexit, the club-style MGA formation platform Castel Underwriting Agencies Limited (Castel), has announced the opening of its first branch office in Amsterdam.
Castel’s European office is set to provide a platform from which to launch and develop speciality underwriting cells, as well as supporting individual underwriters with books of niche business, across the continent. It has been registered with the Dutch Authority for the Financial Markets (AFM).
The first cell to operate from this new branch office will be Castel Transact, a division of Castel Speciality, which provides tailored warranty and indemnity and tax risk insurances for European-based organisations.
Chief Executive Officer (CEO) of Castel, Mark Birrell, said, “Opening our Amsterdam branch office is an important milestone in our growth strategy. Building on the success of our MGA formation platform in the UK, we are looking to support niche underwriters operating in Europe to establish their own businesses.
“This also enables Castel to focus on the identification and development of European opportunities post Brexit.”
