Pen Underwriting has appointed Neil Bowdrey to the newly created role of Head of D&O as the company looks to expand its presence in the directors & officers liability insurance market.
Bowdrey will be based in the UK and report into Adrian Scott, Managing Director of International & Financial Lines at Pen Underwriting.
He brings 35 years’ specialist experience and is recognised as a D&O expert as well as a successful builder and leader of broader financial lines underwriting portfolios both in London and Australia.
He joins from Liberty Specialty Markets, where he has been D&O Portfolio Manager for Asia Pacific since 2017, based in Perth, Western Australia.
Prior to that, Bowdrey was a Financial Lines Manager for Western Australia at Allianz Global Corporate & Specialty, following a similar role at AIG, having relocated from London in 2005.
His appointment forms part of Pen’s stated strategy of accelerated growth and its ambition to become a £1bn gross written premium underwriting & distribution business through investing in top industry talent and specialist expertise in new niche sector or product areas, alongside acquisitions and innovation.
Scott commented: “D&O is a dynamic market with considerable pricing momentum that is attracting new capacity to the marketplace. With Neil’s appointment and Pen’s strong distribution platform for insurer partners, we can provide excellent distribution for new and existing D&O capacity.
“Given the current market dynamics it’s the ideal time to invest in expanding and evolving Pen’s D&O offering to the forefront of our international & financial lines portfolio.
“Neil’s extensive experience in both the London and Australian markets will see him bring to Pen not only expert knowledge, strong leadership credentials and a great international reputation but the D&O firepower needed to ensure we expand out our capabilities and deliver on our ambitious plans in these new areas. We very much look forward to welcoming Neil to the team.”
Nick Wright, Chief Business Development Officer at Pen Underwriting, added: “Investing in top industry talent like Neil, to enable us to expand into new niche areas, write more diverse risks and in turn support our broker clients in growing their own businesses, is a core part of our strategic mix for accelerated growth.
“Alongside acquisitions and innovation, investing in strategic new hires is what will enable Pen to really move the dial.”