Pen Underwriting has reorganised its divisional structure in a move designed to streamline its commercial underwriting operations across the UK and Ireland.
The change brings together multiple underwriting teams under a single unit to enhance regional growth and strengthen broker support.
As part of the restructuring, Pen has formed the Commercial UK & Ireland division, which will integrate underwriting expertise across property, casualty, fleet, and financial lines.
Sarah Breslin (pictured) has been appointed managing director of the newly created division, having previously led Pen’s Specialty division.
She said the new structure would provide greater clarity for brokers seeking risk solutions across multiple business lines.
“Bringing together all our commercial underwriting expertise will provide broker partners with an even stronger service and solution proposition, as we reinforce our regional focus,” Breslin said.
The restructuring follows Pen’s expansion into Ireland in 2024 with the acquisition of Wexford-based Wrightway Underwriting, a specialist in haulage and transportation insurance. The acquisition provided a foundation for distributing new products between the UK and Irish markets.
Pen Underwriting CEO Tom Downey said the expansion into Ireland created an opportunity to reassess the company’s growth strategy.
“As a result of bringing Wrightway into the Pen family and establishing our first on-the-ground presence in Ireland, we redoubled our focus on how best to grow and expand our business on a more regional basis across the UK and Ireland,” he said.
The leadership change comes as Richard Webb, managing director of UK Financial Lines & Specialty Liability, prepares to retire after nearly four decades in the insurance industry.
Webb, who has held senior roles at General Accident, Hiscox, HCC, Manchester Underwriting Management, and Pen, will step down later this year.
Downey noted that Webb’s retirement provided a chance to consolidate underwriting specialisms under a single commercial unit.
“Richard’s decision to hang up his ‘work boots’ gave rise to a natural opportunity to create a more unified commercial division that brings together all our complementary risk management and underwriting specialisms,” he said.
The restructuring aligns with Pen’s new operating model, which now consists of four divisions: Commercial – UK & Ireland, SME & Personal Lines, International, and Public Sector. The changes bring together teams from the former Specialty and UK Financial Lines & Specialty Liability divisions, with existing product and regional leads remaining in place.
