The hire brings 35 years of experience and ‘D&O firepower’ to the new position
MGA Pen Underwriting has appointed Neil Bowdrey in the newly created role of head of directors and officers (D&O).
In this position, Bowdrey aims to significantly expand the MGA’s presence in the D&O liability insurance market by exploring and building out new niche industry segments in both the UK and overseas.
Bowdrey joins the MGA this week and will be based in the UK. He will report to Adrian Scott, Pen Underwriting’s managing director of international and financial lines.
Bringing 35 years’ of specialist experience to the role, Bowdrey joins from Liberty Speciality Markets, where he has been D&O portfolio manager for Asia Pacific since 2017, based in Perth, Western Australia.
Previously, having relocated from London in 2005, he was financial lines manager for Western Australia at Allianz Global Corporate and Speciality.
Before moving to Australia, Bowdrey held senior professional and financial risks roles at broking firms and Lloyd’s syndicates.
Moving the dial
The new role aligns with Pen’s ambition to become a £1bn gross written premium underwriting and distribution business, alongside acquisitions.
Commenting on the hire, Scott said that Bowdrey’s “extensive experience” will help boost “D&O firepower”, to ensure that the business is ready to deliver its “ambitious plans in these new areas”.
He said: “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 and financial lines portfolio.
“We very much look forward to welcoming Neil to the team.”
Chief business development officer at Pen Underwriting, Nick Wright, 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.”