Assuming all regulatory nods are eventually passed, Pen Underwriting will soon have a new chief financial officer in the form of Sarah Breslin (pictured).
Breslin has joined the MGA’s executive team, bringing with her a wealth of knowledge having been with the wider Gallagher group for more than eight years.
“It’s hard to think of a more exciting time to be joining Pen,” she said. “With its clear ambition to become a £1 billion underwriting and distribution business, I’m really looking forward to working with Tom [Downey, CEO] and the team to help the business expand and diversify at pace.”
A chartered accountant by profession, she began her career with PwC before moving to Deutsche Bank, Barings Asset Management and eventually into the insurance industry with Gallagher, including in her most recent role as finance director of corporate services.
“We are absolutely delighted to welcome Sarah to Pen as our new CFO,” said Downey. “She brings a fantastic mix of professional experience, commercial acumen and strategic leadership. Sarah’s time as a finance director within the wider group, at a time of rapid growth through M&A and transformational change, will also stand her in great stead supporting Pen at this pivotal time as we look to accelerate our own growth through acquisition and organically.”
Meanwhile, Downey also reserved kind words for Praveen Panicker, Pen’s former CFO who will now move over to Gallagher’s corporate finance team.
“We wish Prav all the very best in his new role, which is a great opportunity for him both personally and professionally,” Downey said. “He has contributed a great deal to Pen during his time with us, both at executive level but also as a passionate leader and motivator of people.”