Altitude Risk Partners L.L.P., which will underwrite aviation coverage, has launched as the first underwriting cell using the Castel Underwriting Agencies Ltd. managing general agency platform.
Altitude Risk Partners will underwrite coverage for airlines, manufacturing products, general aviation, war and space risks, the company said Monday in a statement.
It is backed by capacity provided by Barbican Group Holdings Ltd., HDI-Gerling Industrie Versicherung A.G. and Sompo Japan Insurance Inc. on a quota share basis, according to the statement.
The founding underwriters of Altitude Risk Partners are David Godley, previously senior underwriter for airlines and general aviation business at Global Aerospace Underwriting Managers Ltd.; and Richard Power, previously senior airline class underwriter at Catlin Group Ltd. Both are based in London.
They soon will be joined by Tim Wright, previously group space underwriter at Global Aerospace, the company said in a statement.
Castel Underwriting Agencies is a club-style MGA platform developed to support individuals or teams or underwriters with niche or specialist books of business. Barbican launched the London-based MGA last year.