Pen Buys Manchester Underwriting Agencies

Arthur J. Gallagher & Co. (AJG), global insurance brokerage and risk management services firm, Monday said its specialist underwriting subsidiary Pen Underwriting has acquired 100 percent of UK-based Manchester Underwriting Agencies Limited and its wholly owned subsidiary, Manchester Underwriting Management Limited or MUM, for an undisclosed sum.

The newly acquired business is expected to become a part of Pen Underwriting, and Charles Manchester will continue to lead MUM, the Rolling Meadows-based Arthur J. Gallagher said in a statement.

Founded in 2010, the UK company, MUM specializes in providing professional indemnity and management liability coverages for SMEs through its independent retail broker clients.

Arthur J. Gallagher has operations in 57 countries and offers client service capabilities in over 150 countries through a network of correspondent brokers and consultants.

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