Castel Specialty, a division of club-style MGA formation platform Castel Underwriting Agencies, has expanded its portfolio with the launch of Castel Political Risk.
The new cover will primarily relate to contract frustration and political risk, and will generally focus on business in Latin America, the Middle East, and Africa.
The political risk division will be led by Tom White, who recently helped to establish the political risk book at ANV (now AMTrust).
White has also previously served as a political risk underwriter at Liberty Syndicates and has worked within the political risk team at Willis Towers Watson.
Mark Birrell, Chief Executive Officer (CEO) at 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.”
White also 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.”
