New British Underwriter Snaps Up Crisis Insurer

Law360, London (January 3, 2020, 12:21 PM GMT) -- A British underwriting agency said Friday it has sold a business that specializes in offering cover against political violence and terrorism to another agency based in London for an undisclosed amount of money.

Castel Underwriting Agencies Ltd., a London-based managing general agent — an insurance platform that allows underwriters to run their own businesses through its infrastructure — announced the sale of one of these so-called underwriting cells to another managing agent, Optio Group Ltd.

Optio was created out of a merger of British underwriter Ascent and U.S. managing general agent Cove Platforms in September. It has bought one of Castel’s underwriters of insurance...

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