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People Moves: 9 - 12 May 2023

People against city backdrop

Stay in the loop with insurance personnel moves.

Featuring: Pen Underwriting, Hiscox, Renovation Underwriting, Chubb Climate+, Ki and ICSR

Pen Underwriting appoints new CFO

Pen Underwriting has appointed Catriona Thomson as chief financial officer. She will join the Pen executive team with effect from 1 July 2023. Current CFO Sarah Breslin will become managing director of Pen’s Specialty division at that time.

A chartered accountant by profession Thomson has been head of IBA operations in the UK for the wider Gallagher group since 2014

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ManyPets confirms social media clone

Pet insurance managing general agent ManyPets has confirmed a customer was contacted by an X account impersonating its brand and has issued a warning on how increasingly convincing scammers can appear.

Q&A: Pen’s Nick Wright

Nick Wright, chief business development officer at Pen Underwriting, tackles its recent M&A quietness, capacity in the market and the benefits to brokers from niche products. He updates on the goal of hitting £1.75bn GWP by 2030, streamlining its agency base and shares why he thinks the Gallagher-owned MGA will “go from strength to strength”.

Aviva responds to Direct Line’s £10.6m fine

Aviva has confirmed it was fully aware of the ‘historical’ accounting errors that have led to the Prudent Regulation Authority hitting Direct Line Group with a £10.6m fine and stated there will be no impact on the integration or the financial benefits it expects from the takeover.

PRA fines Direct Line underwriter £10.6m

The Prudential Regulation Authority has fined UK Insurance Limited, a subsidiary and principal underwriter of Direct Line Group and now part of Aviva, £10.625m for a miscalculation of its Solvency II balance sheet during 2023 and 2024.

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