Castel opens in Amsterdam for European expansion
Castel Underwriting Agencies, a managing general agent (MGA) formation platform, has opened its first branch office in Amsterdam, Netherlands to support plans to expand its operations in Europe as the UK leaves the EU.
Castel’s European office will provide a platform to develop and launch specialty underwriting cells, as well as support individual underwriters with books of niche business across Europe, the company said.
Castel Transact, a division of Castel Specialty, which provides tailored warranty and indemnity and tax risk insurances for European-based organisations, is the first cell to operate from this branch office.
The company has registered the new entity with the Dutch Authority for the Financial Markets (AFM).
Mark Birrell, CEO of Castel, 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.”
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