Pen Underwriting has announced that Gary Marshall will become the general manager of the business with immediate effect.

Marshall was previously business development manager at the business and will now be responsible for the day-to-day running of the business.

The move follows the recent news that CEO of the business, Paul Lynam, was leaving the business and would be replaced by chairman of Arthur J Gallagher Asia Pacific, which owns the business, Peter Searson.

"We are delighted that Gary has taken on greater day‐to‐day responsibilities within the business,”  Searson said in a statement.

“His experience with underwriters and knowledge of our clients is outstanding and I know this will be a win both for our people and our clients.”

Searson will continue in his role as chairman and the Board will oversee strategic management of the business.

Lynam, the founder of SRS which was merged with Australis to become Pen Underwriting in Australia in November 2014, had been with the business for more than 20 years.