Having hit its objective of £1bn gross written premium a yr early in 2024, Pen Underwriting has set its sights on £1.75bn by 2030. CEO Tom Downey tells Insurance coverage Age concerning the technique of natural progress, product improvement and acquisitions now in place to succeed in the milestone.
The managing basic agent achieved the earlier goal by “a hair’s breadth” final yr, Downey says explaining on the brand new quantity: “That might make us the equal of a prime 10 UK insurance coverage firm because it sits immediately.”
On the 2024 Biba Convention Nick Wright, Pen’s chief improvement officer, had famous he was kissing a great deal of “frogs” because the agency aimed for 2 acquisitions.
It ended up with one, Republic of Eire-based MGA Wrightway Underwriting establishing Pen’s first on-the-ground presence in
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