Castel enters contingency market

Castel Underwriting has launched a contingency underwriting cell, focusing on the sports, leisure and entertainment industries.

The new cell will be led by Yaël Mimran, who joins from Liberty Specialty Markets, and Nick Carragher from Tysers.

Ms Mimran has over 25 years’ underwriting experience. As contingency class underwriter at Liberty, she started in Paris before moving to London in 2015 to take on a more global oversight role. Prior to this, she spent 12 years at Axa in various underwriting positions.

Nick Carragher has 10 years’ contingency experience, most recently at Tysers.

According to Mimran, the move to Castel represented an entrepreneurial opportunity at the right time for the market.

“2022 marks a new era for the contingency market,” she said, “after the huge losses suffered during the Covid pandemic, opportunities now abound to write a balanced and profitable book across the world,” she said. “Castel’s structure and ready approach to entering new markets presented an ideal opportunity for Nick and myself to bring new risk transfer options to the table which will reflect the needs of the sports, leisure and entertainment industries today.”

Mark Birrell, chief executive of Castel, added: “I’m delighted to be able to bring someone of Yaël’s reputation and experience into the business. Our model has opened the door to yet another exceptional individual from the market, providing all the tools needed to set up and underwrite from day one.”

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