Pen Underwriting UK adds intellectual property to portfolio
Head hired from Gallagher
Pen Underwriting: Everything you need to know
Underwriting teams: 17
Locations: 15 (throughout the UK)
Headquarters: London, United Kingdom
Pen Underwriting is part of the Arthur J. Gallagher group (the division of Arthur J. Gallagher & Co. which is focused on international broking and underwriting outside of the United States). In 2014, Pen Underwriting was formed from 12 leading underwriting businesses. These businesses assembled to create a single company on the understanding that together they could provide the value proposition relied on by brokers – outstanding support and service.
Many of the founding businesses of Pen Underwriting were market leaders and experts in their own right prior to this amalgamation, and this has given this organisation a natural advantage in this competitive market. It has a GWP (2018) of approximately £500 million and a definitive aim to underwrite a portfolio unmatched in its diversity.
The products of Pen Underwriting
As stated by chief executive, Jonathan Turner, “We are more than just an underwriting business; we are a virtual insurer, offering the security you would expect from an established insurer, with the innovation, niche expertise and flexibility that MGAs are known for.” As a virtual insurer, Pen Underwriting operates in the same way as a typical insurance company but without carrying risk.
Pen Underwriting’s aim to underwrite a portfolio with great scope, territory and reach is evident from the broad range of products offered by the underwriter. From real estate to liability to cyber to hazardous and environmental industries, Pen Underwriting offers specialist cover and tailored, high-quality solutions.
The values of Pen Underwriting
Pen Underwriting prizes four essential traits as the embodiment of the value system of this organisation. These are:
Ethics and culture at Pen Underwriting
Though separately regulated from the Gallagher group, as part of the group Pen Underwriting has been recognised as one of the world’s most ethical companies and is proud to share the culture of the Gallagher group.
Pen Underwriting participates in the United Nations Global Compact Principles, demonstrating its commitment to maintaining a solid ethics and compliance programme and commitment to ethical behaviour.
As part of the Gallagher group, Pen Underwriting has won the global Ethisphere Award for seven consecutive years, generating a powerful reputation as a company with excellent corporate citizenship and responsibility.
To support Cancer Research, Pen Underwriting employees set up a Charity Committee which organises an array of fundraising activities, including a Cake and Coffee Morning for World Cancer Day. In conjunction with Gallagher’s match funding scheme, every effort is made by Pen Underwriting to give back to the wider community.
Important news from Pen Underwriting
Some key faces at Pen Underwriting
Head hired from Gallagher
Transaction to bring onboard marine specialisms
She has "strong leadership capability, proven business acumen, and extensive knowledge"
Previous head takes on a new role
Area with "great growth potential"
It's going to take a generation to create real change, says CEO
Three industry leading experts give their views
Broking and underwriting performance broken down
Senior announcements made for new hub
This is the first phase of a strategic partnership with US firm Paladin Cyber