Pen Underwriting reveals £1bn GWP target
Exclusive: The Gallagher-owned MGA sets out its new strategy as it unveils plans to grow by acquisition and expand into new product areas.
Pen Underwriting has outlined a new growth strategy which involves a £1bn gross written premium (GWP) target, Insurance Age can reveal.
The move comes as the Gallagher-owned managing general agent marks its first five years trading as a cohesive business, after the broker brought together its UK MGAs under the Pen brand in 2014.
Earlier this year Tom Downey was appointed chief executive officer of the business, taking over from Jonathan Turner who moved across to Gallagher’s UK-based specialty
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