Analysis

Tom Downey: Pen Underwriting plans to use M&A to build ‘a much more specialist, niche business’

By 2024-06-10T07:00:00

Tom Downey May2024 4 high res

Chief executive strives for MGA to be ‘magic in the middle’ between capacity partners and brokers as it looks to hit £1bn GWP by year-end

Gallagher-owned MGA Pen Underwriting is “increasingly looking” at complementary M&A opportunities in order to build the company into “a much more specialist, niche business” that offers a greater number of “boundary-less” products across Europe, according to Tom Downey, the firm’s chief executive.

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