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Nirvana Finalizes Administration Buyout From Castel

Specialist underwriting team Nirvana Risk Partners, a division of Castel Underwriting Agencies, has finalized a management buyout from Castel Underwriting Agencies.

The underwriting team is focused on technology, film and television, and media liability lines, and is led by Rob Jones and Glenn Crickmar. Nirvana was founded in 2017 under the Castel formation platform and provides brokers globally with solutions across each class, including a product offering that incorporates coverage for all mentioned lines in a single policy.

A strong, niche business

In an official statement, Castel CEO Mark Birrell said that Jones and his team have built a “strong, niche business” over the last six years.

“Castel is focused on supporting our underwriting businesses to grow profitably and sustainably. I wish Rob and the Nirvana team every continued success as they move on to the next phase in the development of the business,” he said.

Jones, Nirvana partner, and lead underwriter have over 25 years of experience in the insurance industry, shifting from AXIS to Nirvana. He previously worked at Hiscox and Aon. Crickmar joined Nirvana in 2017 as a media, technology, and cyber underwriter.

“Since joining the Castel platform we have been provided with the full range of support services and infrastructure needed to develop and grow a successful MGA. This has enabled us to develop what we believe is a compelling package of products in the cyber, technology, and media liability market. I would like to thank Mark and his team for this support and for delivering on the promises made at the start of this journey together,” Jones said.

Castel is an independent trading company and managing general agent (MGA) and club-style MGA formation platform focused on achieving success and driving innovation through collaboration. It is authorized and regulated by the Financial Conduct Authority, and its underwriting cells include specialty, construction and engineering, marine, Square Pegs, Verve Risk Partners, Yachtpod Risk Partners, Transact, Arena, Albus, Castel NAPL, and Paradiso.

The firm’s latest venture was into contingency, and the underwriting cell is run by Liberty Specialty Markets (LSM) hire Yaël Mimran and Tysers alumnus Nick Carragher.

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