By Stephen NakrosisRyan Specialty has agreed to acquire Castel Underwriting Agencies. Ryan said Thursday it would acquire the managing general underwriting platform from Arch Financial Holdings (UK) and minority shareholders. Castel, which was founded in 2014, has headquarters in London and offices in the Netherlands and Belgium, Ryan said. Castel Underwriting's MGUs include transactional liability, renewable energy, construction, and marine, among other lines, according to Ryan. Terms of the deal, which is expected to close in the first half of 2024, weren't disclosed.

Source: Wall Street Journal December 21, 2023 21:33 UTC