PID merging with Saturn Professional Risks

PI Direct (PID), through the creation of a new holding company, has announced it is merging with Saturn Professional Risks. The holding company is jointly owned by the management of both companies along with new investors Penta Capital. Although both Saturn and PID will continue to operate independently of each other, the new group is now effectively the largest specialist PI underwriting agency in the UK with combined gross written premium of £55m.