Pen Underwriting has announced that Sarah Breslin, who is currently the firm’s Chief Financial Officer (CFO), has been appointed Managing Director of its Specialty division.
Breslin has held the role of CFO since 2020 and is set to take on the strategic and operational leadership of the Specialty division from July 2023, replacing Steve Thornett, who has left the business.
She is a chartered accountant with a strategic financial and commercial background and has more than two decades of experience. Breslin began her career in the investment banking and asset management sectors, transitioning to insurance in 2012 when she joined the central finance team at insurance broker Gallagher.
Breslin commented on the new role, stating, “Taking on a new role and fresh challenge is always exciting, but being able to do so while staying with Pen makes it more so.
“In Specialty, I am fortunate to be taking on an already successful and well-diversified business, with a strong management team of experienced individuals that span the disciplines of construction, the hazardous goods and environmental industries, and the more complex end of risk-managed commercial business.
“I’m already looking forward to learning from the team, supporting them and working together to ensure we continue to deliver the most effective risk solutions that our brokers and their clients need.”
Tom Downey, CEO of Pen Underwriting, added, “Sarah’s appointment to lead one of our core trading and underwriting divisions is a testament to the hugely positive impact she has had on Pen in the time she has been with us.
“She brings to the role strong leadership capability, proven business acumen and extensive knowledge of both Pen and the insurance industry gained during her time as our CFO, and a decade working within the wider Gallagher group.”
“On behalf of Pen, I’d also like to thank Steve for his valued contributions over the years and wish him well for the future.”
Downey continued, “I know Sarah will be a fantastic leader to a great team of some of our most experienced sector specialists. Her appointment is another example of Pen’s ability to find the talent we need from within our own business, and how we support our colleagues in applying their skills and experience in new areas to realise their ambitions.”