Pen Underwriting is a multi-class, multi-territory managing general agent (MGA) that operates as a virtual insurer, meaning it can fulfil all the typical functions of an insurance company — from underwriting, sales & distribution, pricing & analytics, product innovation, risk & governance through to claims handling — other than the provision of insurance capital. Pen Underwriting has five divisions — International & Financial Lines, Specialty Lines, Public Sector, SME & Personal Lines and Manchester Underwriting Agencies Management (‘MUM’) — offering a wide and growing range of specialisms from e-Solutions and delegated authorities for volume business through to specialty products with individual underwriting for hard-to-find placements. Already one of the UK’s largest MGAs, Pen has a bold vision to become a £1bn gross written premium (GWP) underwriting and distribution business. In October 2021 it acquired Manchester Underwriting Agencies Limited and its wholly owned subsidiary MUM, adding more than £60m GWP to the overall Pen family. Together, the businesses now generate more than £720m GWP with a combined team of 450 insurance professionals.
