Gallagher's Pen replaces chief financial officer in growth push

London-based managing general agent (MGA) Pen Underwriting has appointed Sarah Breslin as new chief financial officer (CFO), replacing Praveen Panicker.

Panicker is joining Gallagher’s corporate finance team.

Breslin has been with Gallagher group for more than eight years, most recently as finance director of corporate services.

Having begun her career at PwC in audit & assurance, Breslin worked for Deutsche Bank as a management information analyst and at Barings Asset Management as head of MI and income accounting before moving into the insurance industry and joining the Gallagher group in 2012.

Tom Downey, chief executive of Pen Underwriting, said: “We are absolutely delighted to welcome Sarah to Pen as our new CFO. She brings a fantastic mix of professional experience, commercial acumen and strategic leadership. Sarah’s time as a finance director within the wider group, at a time of rapid growth through M&A and transformational change, will also stand her in great stead supporting Pen at this pivotal time as we look to accelerate our own growth through acquisition and organically.

“We wish Prav all the very best in his new role, which is a great opportunity for him both personally and professionally. He has contributed a great deal to Pen during his time with us, both at Executive level but also as a passionate leader and motivator of people.”

Breslin commented: “It’s hard to think of a more exciting time to be joining Pen. With its clear ambition to become a £1bn underwriting and distribution business, I’m really looking forward to working with Tom and the team to help the business expand and diversify at pace.”