Pen Underwriting
Intellectual property – how can brokers help clients insure the intangible?
There is more intellectual property in existence today than ever before – and its value is growing at a faster rate than physical assets. Martin Friel explores what products exist to help brokers protect their clients’ intangible assets and why SMEs are as much at risk as corporates.
Gallagher hails 8% Q4 organic growth in retail
Gallagher grew UK and Ireland retail business by 8% organically in the final quarter of 2023, while the specialty division achieved a 16% organic uplift, the broker has confirmed.
Gallagher’s Michael Rea given expanded UK CEO role
Gallagher has promoted Michael Rea to CEO of UK broking and underwriting, subject to regulatory approval.
People Moves: 4-8 December
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Pen takes box at Lloyd’s
Pen Underwriting has taken a box at Lloyd’s, which will be staffed initially with a marine team ahead of diversifying into complementary products and other lines.
Pen launches TMK-backed IP cover in UK
Pen Underwriting has rolled out an intellectual property insurance proposition backed by Tokio Marine Kiln, which is aimed initially at UK businesses.
People Moves: 30 October – 3 November 2023
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Aqueous launches solicitors’ excess layers product
Managing general agent Aqueous Underwriting has secured A+ rated capacity for solicitors on an excess layer basis only, a move it said responded to broker demand in an “underserviced” market.
Pen Underwriting secures £100m capacity deal
Pen Underwriting has signed a capacity agreement that will allow it to write £100m worth of solicitors’ professional indemnity business over three years.
Gallagher's organic growth hits 11%
Gallagher has posted 11% organic growth for the second quarter of 2023 in its UK & Ireland retail division.
Pen spins out UK financial lines and liability arm with Manchester as chair
Managing general agent Pen Underwriting has today announced some changes to its structure, which sees Manchester Underwriting Management founder and CEO Charles Manchester become chair of a new division.
People Moves: 17 – 21 July 2023
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MGAs fear regulatory scrutiny will deter new entrants and diversification
Nine in 10 managing general agents believe that regulatory scrutiny will increase over the coming year, potentially deterring more entrants into the space.
People Moves: 3 – 7 July 2023
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People Moves: 9 - 12 May 2023
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Gallagher reveals retail and specialty organic growth
Gallagher’s UK & Ireland retail division achieved 7% organic growth in the first quarter of 2023, the global broking giant has revealed.
Pen Underwriting CEO eyes more M&A to get closer to £1bn GWP target
Pen Underwriting CEO Tom Downey claims the business is on track to hit its £1bn GWP target within three years - and that it will reach it by both diversifying and building on what it has already got.
Pen adds £90m of GWP with marine MGA buy
Pen Underwriting has bought Tay River Holdings and its wholly owned marine specialist subsidiaries Vessel Protect, Trafalgar Marine Trades and BMM Ports & Terminals for an undisclosed sum.
People Moves: 27 - 31 March 2023
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People Moves: 27 February - 3 March 2023
Keep up to date with the latest personnel moves within insurance.
People Moves: 20 – 24 February 2023
Follow the latest insurance personnel moves.