General Insurance Corporation is world’s fifteenth largest reinsurer

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Altitude Risk Partners, Castel’s global aviation and space underwriting business, has added the General Insurance Corporation of India, the world’s fifteenth largest reinsurer, to its aviation capacity providers.

The Indian government owned business joins existing capacity providers Barbican Syndicate 1955, HDI-Gerling Industrie Versicherung AG, Sompo Japan Nipponkoa Insurance Inc, China Pacific Property Insurance Company Ltd and Trans Re.

Through Altitude, Castel underwrites airlines, manufacturing products, general aviation, war and space business. Altitude was launched at the beginning of 2014 as the first underwriting cell to utilise Castel’s club-style MGA formation platform.

Altitude partner Richard Power said: “General Insurance Corporation of India joining our capacity providers clearly demonstrates their belief in our fast-expanding specialist business.”