MUM reveals growth post Pen takeover
Manchester Underwriting Management has grown to just south of £70m gross written premium since being bought by Gallagher-owned Pen Underwriting, CEO Charles Manchester told Insurance Age.
When the managing general agent was snapped up last October it had £60m of GWP and 50 staff.
The rise was not purely due to increases in rates, Manchester reported suggesting that in the last six months professional indemnity pricing had not “particularly grown” in the UK.
“We are organically writing some more casualty and PI and are seeing more opportunities with extra brokers and with Gallaghers,” he said.
The headcount has remained the same, Manchester detailed flagging that the new owners
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