Castel Underwriting Agencies Ltd (Castel), including Castel Underwriting Europe BV has received an affirmed Performance Assessment of PA-2 (Excellent) with a stable outlook from AM Best. The rating agency announced its intention to evaluate delegated authority providers in 2021, due to their increasing prominence in the market.

Mark Birrell, chief executive of Castel, said: “I’m delighted to see our ‘excellent’ Performance Assessment with a stable outlook affirmed by AM Best for 2023, which is testament to the continued hard work and commitment of everyone at Castel in providing excellence across the business.

“We continue to support AM Best’s Performance Assessments, recognising the valuable role they play in providing insurance carriers with the assurance of working with a trusted organisation that demonstrates the highest standards across all aspects of its operations.”

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