RPC advises the Castel management sellers on their sale to Ryan Speciality

International law firm RPC has advised the management sellers of Castel Underwriting Agencies Limited (Castel) on its sale to Ryan Speciality (Ryan) which was announced December 21, 2023. A definitive agreement was signed, and completion is subject to customary conditions.

Castel consists of thirteen unique Managing General Underwriters (MGUs), each with expertise in a specific product niche.

Ryan is listed on the New York Stock Exchange and is a leading international specialty insurance firm.

The RPC deal team was led by Head of Commercial Insurance and Private Equity James Mee, working with Partner David Wallis, Senior Counsel Charles Suchett-Kaye, Senior Associate Ben Magahy and Associate Arjun Patel.

Castel's Chief Executive Officer Mark Birrell commented: "We could not be more excited to be joining forces with Ryan. This was a hugely important deal for Castel, our respective clients and underwriting teams. We have known James and the RPC team for a long time and naturally sought to involve them to advise the management sellers of Castel through the transaction."

James Mee noted: "It is always a pleasure to work with Mark, Roland and the rest of the Castel management sellers, in particular on such an important deal. We are truly delighted to have worked closely with them on this transaction.

"We've a unique and unusual transactions specialism in the insurance market with a strong track record of successful and often market leading deals. Coupling that with our expertise in advising management on their equity arrangements with buyers and investors is where we can really assist management teams on these types of transaction."