MGA Pen Underwriting (Pen) has appointed Seb Simmonds as the new managing director (MD) of its public sector division.
Simmonds (pictured), who has been with Pen since the beginning, is currently the MD of risk managed commercial – a role he has held since 2020. He has 20 years of experience, the majority of which have been in the specialist field of schemes and MGAs. Within Pen, he has held various roles, including managing the delegated commercial team and its 80 sub-delegated arrangements across property and liability schemes for five years.
Beginning May 1, 2023, subject to regulatory approval, Simmonds will lead Pen’s public sector division, including the specialist business Risk Management Partners (RMP).
Commenting on the appointment, Pen CEO Tom Downey highlighted Simmonds’ leadership capabilities, extensive knowledge of Pen, and a great reputation with the company’s capacity partners.
“In a relatively short period, Seb has transformed the risk managed commercial business in terms of capacity, operations, and underwriting performance – and these disciplines will be equally crucial to the ongoing success of our public sector, higher education, and social housing business,” Downey said.
“Seb’s promotion is not only a testament, therefore, to the internal talent we have within Pen but also a great example of the value we place on leaders bringing their knowledge and insight to bear on new areas of the business, where colleagues, brokers, coverholders, and capacity alike will benefit from their breadth of experience.”
Simmonds will take on the strategic and operational leadership of the public sector division upon the retirement of current divisional MD Nick Colyer.
However, Pen confirmed that it will retain Colyer’s expertise, insight, and experience in an advisory capacity as he takes on the role of RMP chair.
Downey commented: “On behalf of the whole business, I would like to say a massive thank you to Nick, who has been an inspirational leader for the wider public sector business as part of the Pen family and the driving force behind RMP’s exponential growth since becoming MD of the business back in 2012. We’re delighted to be retaining his specialist knowledge and wisdom in his capacity as chair of RMP.”
Colyer said: “The public sector marketplace has always been challenging, yet the team demonstrates every day the discipline and execution needed to manage growth, retention, and profitability. It’s a testament to them that we have achieved what we have, and I am incredibly fortunate to have been surrounded by such talented individuals throughout my career. I am proud of the resilient business we have created, and I look forward to watching the business flourish and evolve under Seb’s leadership.”
On being Colyer’s successor, Simmonds said: “I’m excited to be taking on the mantle of the public sector business from Nick, who has been instrumental to its growth, diversification, and success. He leaves it in brilliant shape with a fantastic, well-respected team of specialist underwriters, and I look forward to consolidating our strong position in existing markets as well as innovating and expanding into new ones.”
The leadership changes follow the appointment of new business development managers (BDMs) for the Midlands and the addition of Natalie Taylor and Daniel Calderbank to the growing Pen claims team.
Pen claims manager Matthew Hope said he expects the new hires’ wealth of experience to strengthen Pen’s property and liability teams.
“I am delighted to extend a warm welcome to Natalie and Danny, who will be joining our esteemed commercial claims team,” Hope said in a statement. “I am thrilled to see our Manchester and Chelmsford teams expanding, strengthening Pen’s claims service to brokers.”
