Pen adds £90m of GWP with marine MGA buy
Pen Underwriting has bought Tay River Holdings and its wholly owned marine specialist subsidiaries Vessel Protect, Trafalgar Marine Trades and BMM Ports & Terminals for an undisclosed sum.
Established in 2020 by Paul Hartley, James King and Chris Goddard, Tay initially comprised the three niche managing general agents, backed by the A-rated capacity at Lloyd’s. It has since grown to a team of 17, generating more than £90m gross written premium.
Related Pen Underwriting Limited revenues in UK rise as it targets £1bn GWPPen Underwriting Limited’s turnover in the UK rose by 1% in 2021 as it remained on course for its £1bn gross written premium target, according to year
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