The founder and managing director of Keegan & Pennykid Insurance Brokers has stepped down from the company which reached a new milestone in raising funds for the charity and not-for-profit sector of the UK.
Ken Pennykid and his wife Elizabeth both retired from the company at the end of April after 50 years in the business. He will be succeeded by their daughter June who joined the brokerage in 2002.
According to the broker, as of April 2017, it has given more than £2 million to the third sector as a result of the broker’s Encompass Insurance Scheme.
Developed in 1997 and underwritten by
RSA, the Encompass insurance policy is specifically designed to meet the individual insurance requirements of charities, social enterprises and voluntary organisations of all sizes.
The scheme serves as an important source of income for the Scottish Council for Voluntary Organisations, Wales Council for Voluntary Action and the London Voluntary Service Council.
“To reach this landmark of £2 million in our 50th year is a great achievement and one which I’m particularly proud of,” Pennykid said.
“Not only have we given peace of mind by providing insurance cover to charities, but we have also been able to put money back into the charity sector, allowing them to best serve the aims of their organisations,” the retiring managing director added.
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