This could assist Pen Underwriting brokers whereas additionally boosting the agency’s technique of progress and diversification.

From the start of August 2023, Pen Underwriting will separate out its Worldwide & Monetary Strains (IFL) division to create a standalone arm, centered on UK monetary traces and specialist legal responsibility.

Pen Underwriting workers altering locations

This will probably be led by Richard Webb, who will turn into managing director of the division and in addition be part of the Pen Government Committee.

Moreover, the worldwide division will proceed to be led by Adrian Scott as managing director.

These adjustments comply with the enlargement of the IFL division, but in addition brings collectively the complete power of its UK monetary traces experience. This was not too long ago boosted by the 2021 acquisition of Manchester Underwriting Administration (MUM).

In consequence, the founding father of MUM and present CEO Charles Manchester will take the position of chair of the brand new UK monetary traces & specialist legal responsibility division. He goals to carry ongoing strategic counsel and help to the groups and companies as they proceed to develop.

Tom Downey, CEO of Pen Underwriting, stated: “The creation of our standalone divisions centered on Worldwide enterprise and UK Monetary Strains & Specialist Legal responsibility is testomony to our funding, diversification and progress in these two areas over current years. Creating devoted divisions with a streamlined and centered method greatest positions us to proceed that progress trajectory, by bringing collectively the most effective mix of experience, expertise and technical information to develop the respective product areas in step with our ambitions.

“I’m delighted to welcome Richard onto the Pen Government Committee, and know his a long time of trade expertise and 13 years on MUM’s management group stand him in glorious stead to guide the complete breadth of our monetary traces and specialist legal responsibility propositions, driving and creating alternatives to additional improve our dealer providing.

“I might additionally wish to thank Charles for being such an distinctive chief of MUM, from first founding after which constructing such a profitable enterprise. I do know his intensive expertise, information and strategic recommendation will proceed to show invaluable to the brand new UK Monetary Strains & Specialist Legal responsibility division and the broader Pen enterprise.”