Castel launches A&H underwriting cell

Castel Underwriting Agencies, a managing general agent (MGA) formation platform, has launched an underwriting cell of Vecta Risk Partners to target accident & health (A&H), travel and lifestyle insurance business across the UK and European economic area (EEA).

It is the seventh underwriting business to be launched on the Castel platform. Vecta has capacity provided by Aspen Insurance UK and Inter Hannover.

The new cell is led by three former senior executives from Chubb Insurance Company of Europe.

One of the executives, Richard Gorely, who is responsible for client and broker relations, has over 25 years of experience in product and business development, and marketing in the general insurance affinity sector.

Another executive Andy Juggins, who is responsible for underwriting at Vecta, brings three decades of insurance experience to the company. He has held senior management and underwriting roles in the A&H and travel market including at AIG, Direct Line Group and GE Insurance in the past.

Vyv Townend has the responsibility for operational delivery. He has nearly 25 years of experience in IT and operational strategy supporting A&H business across Europe, and management consultancy services for brokers and insurers in the London market.

Mark Birrell, chief executive officer of Castel said: “The A&H market offers experienced and innovative underwriters profitable growth opportunities. The Vecta team brings proven market experience and knowledge across the A&H value chain which, combined with the support of our formation platform, will provide brokers and affinity markets with access to relevant carriers and competitive products.”

Gorely, managing partner at Vecta, added: “Success in the A&H class is not just about expert underwriting. Product innovation, responding to the evolving needs of customers, supported by responsive distribution partners and strong operational structures are all important factors.

“The Castel platform provides Vecta with a flexible and responsive infrastructure that enables us to focus on developing and delivering coverages and high service standards across our extensive client base in the A&H market.