Pen and MUM lift lid on deal
The buy takes Pen Underwriting’s GWP up to £700m.
The deal which has seen Manchester Underwriting Management (MUM) join the Gallagher stable by becoming part of Pen Underwriting was announced yesterday (4 October).
Pen Underwriting CEO, Tom Downey, told Insurance Age that the deal is part of a strong acquisitions pipeline for the organisation. The M&A focus is part of its strategy to control up to £1bn in GWP, which it revealed last year.
He commented: “When we set out our strategy last year, we made it clear M&A is an important part of our
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