Pen Underwriting: Everything you need to know
Headquarters address: 67 Lombard St, London EC3V 9LJ, United Kingdom
Locations: 14 (throughout the UK)
Gross written premiums: £660 million
Underwriting expertise: Commercial; construction; cyber; financial lines; household; hazardous goods, tankers, and environmental industries; liability; professional services; real estate
Key people: Tom Downey (chief executive officer), Jennifer Martin (chief underwriting officer), Matthew Lucas (chief operating officer), Nick Wright (chief business development officer), Catriona Thomson (chief financial officer), Charles Manchester (CEO, Manchester Underwriting), Adrian Scott (managing director – financial lines), Andrew Booth (managing director – SME and personal lines), Nick Colyer (managing director – public sector), Sarah Breslin (managing director, specialty division), Caroline Spalding (HR director)
About Pen Underwriting
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
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
Leadership at Pen Underwriting
Tom Downey – Chief executive officer
Downey was named Pen Underwriting’s CEO following a successful period of sustained growth and underwriting profitability. He joined Pen in 2015, initially leading the firm’s specialty division before taking on the role of chief underwriting officer in 2017. As CUO, he was responsible for underwriting, capacity management, pricing, analytics, risk and governance and claims across Pen.
Prior to coming aboard Pen, Downey held several senior positions at RSA, including as director of MGAs and Delegated Schemes. He joined the company as a graduate trainee 25 years earlier.
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