Pen announces restructure as veteran retires after near 40-year career

Pen Underwriting’s Richard Webb has decided to retire – and the MGA is restructuring its commercial arm as a result.

Webb, who is currently the managing director of UK financial lines and specialty liability at the MGA, is retiring from the industry after a career spanning almost 40 years.

He started out his career at General Accident in 1986, before moving to Hiscox as the London branch manager in 2000.

Webb also worked as head of marketing and broker development at HCC, as well as a director at Manchester Underwriting Management. He took on his current role in August 2023.

With him set to leave Pen later this year, the MGA said it was putting in place a simplified divisional structure to bring together core commercial underwriting capabilities and expertise across the UK and Ireland.

Tom Downey, chief executive at Pen, said: “Webb’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.

“I would like to thank him for everything he has done for Pen and the wider industry. His breadth of experience, market knowledge, sector collaboration and divisional leadership have been of great benefit to Pen.”

Restructure

The structural change will see Pen bring together teams to offer a range of specialist and risk-managed commercial insurance across property, casualty, fleet and financial lines.

They will be led by Sarah Breslin, who currently serves as managing director for the commercial UK and Ireland division.

She joined the firm in 2020 as chief financial officer and took up her most recent role in July 2023.

She said: “I’m excited to lead this combined team as we head into 2025, prioritising the breadth and depth of our product offering across our UK office network and into the Republic of Ireland.

“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. Our aim is to make it easier for brokers to navigate our full range of risk and insurance solutions to ensure we are always delivering the best value for their customers.”

Downey added: “Breslin is ideally placed to lead the enlarged, combined commercial division to deliver what brokers and their customers need, when and where they need it.”