Top specialty leader exits Gallagher’s Pen; CFO steps up to take ‘fresh challenge’

The managing director of specialty at  Gallagher’s Pen Underwriting has left the business after more than eight years at the managing general agent (MGA).

Pen has promoted its current chief financial officer (CFO) Sarah Breslin (pictured) to take on the strategic and operational leadership of the division with effect from July 2023, subject to regulatory approval.

Breslin has held the CFO role at Pen since 2020. A chartered accountant by profession with a strategic financial and commercial background, she brings more than 20 years’ experience to the role. Having begun her career in the investment banking and asset management sectors, she moved across to insurance in 2012 when she joined the central finance team at insurance broker Gallagher.

As MD of specialty, Breslin will be responsible for the company’s specialty businesses, which includes hazardous & environmental industries, risk managed commercial, Pen SME, motor fleet, construction and OAMPS hazardous industries.

Steve Thornett, who has been with Pen since its inception and has been part of its executive team, has left the business. Steve arrived at Pen in 2014 after 30 years leading broking businesses, including RK Harrison, Heath Lambert (now Gallagher), Alexander Forbes and Marsh.

Tom Downey, CEO of Pen Underwriting, said: “Sarah’s appointment to lead one of our core trading and underwriting divisions is 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.

“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.”

Breslin commented: “Taking on a new role and fresh challenge is always exciting, but being able 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.”

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