Pen Underwriting reveals new chief executive

Company makes announcement today about new man in charge of £500 million business

Pen Underwriting reveals new chief executive

Insurance News

By Paul Lucas

There will be a new man at the helm of Pen Underwriting imminently, as the company has today announced that Jonathan Turner will move into the role of chief executive.

Turner will take over the leadership of the £500 million GWP underwriting business from the firm’s existing managing director Mark Armitage. Turner has actually been with the company since September 2015 but steps up as Armitage moves into the role of managing director, broking and placement, for Arthur J Gallagher, the parent company of Pen Underwriting.

“Under Mark’s steerage the team has brought together and integrated a collection of some of the best known and respected UK underwriters and built one strong, specialist underwriting business that is now the second largest MGA in the UK,” said Grahame Chilton, international CEO of Arthur J Gallagher.

“That is an incredible achievement in just 18 months and gives Pen, and Jon, solid foundations on which to now build out the strategic growth plans he has been spearheading as executive chairman of Pen. Core objectives include further international expansion and development of Pen’s specialist underwriting portfolio, and looking at alternative ways to provide capacity for our customers.”

As part of the announcement, Turner spoke about his “incredible journey” since joining the firm and his excitement for the future.

“The principles set out by Mark that underpin and exist in the business today provide the cultural and structural blueprint on which to now accelerate the wider strategy we began to execute in 2016,” he said.

“We’ve already started to take Pen into new geographies, such as the North American Property market, and are continuing to build out new capabilities, classes and lines of business as demonstrated by our recently refreshed recruitment offering and the imminent introduction of the Pen cyber product.  I am really excited to be picking up the reins at such a pivotal point in the Pen story.”

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