Ryan Specialty, the Chicago-based specialty insurance firm, announced it has signed a definitive agreement to acquire Castel Underwriting Agencies Ltd. from Arch Financial Holdings (UK) Ltd. and minority shareholders.
Terms of the transaction were not disclosed.
Founded in 2014, Castel is a managing general underwriting (MGU) platform, headquartered in London with additional offices in the Netherlands and Belgium.
Castel consists of 13 unique MGUs, each