Castel Underwriting Europe B.V. (Castel Europe), a subsidiary of Castel Underwriting Agencies Limited, has announced that it has entered into an agreement with The Hartford to acquire the renewal rights for Navigators Europe, the trading name of Bracht, Deckers & Mackelbert NV (BDM)’ASCO Continentale Verzkeringen NV (ASCO), Rotterdam marine business.
The renewal rights include a book of predominantly Dutch marine cargo, inland hull, land-based equipment and liability business. The Navigators Europe marine underwriting team, based in Rotterdam, will transfer to Castel Europe and will continue to be led by Duco Teijema as marine manager, Netherlands. Teijema will report to Gert van Middelkoop, head of Castel’s Marine Center of Excellence.
“In a market experiencing significant levels of change, being able to provide brokers and clients with continuity of cover and service is of crucial importance to us,” van Middelkoop said. “Retaining the experience and proven track record of Duco and his team is an important indicator of our commitment to the Dutch marine market. We are in a strong position to build our solutions in the Netherlands and across Europe.”
“This renewal rights agreement is significant for us and enables Castel Europe to assume a leading position in the Dutch market,” said Mark Birrell, chief executive of Castel. “Importantly, it brings into Castel the skills, experience and products needed to support the development and delivery of our European expansion plans, which is a key part of our strategy.”