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  5. Pen Underwriting Acquires Fender Marine

M&A Deal Summary

Pen Underwriting Acquires Fender Marine

On July 6, 2023, Pen Underwriting acquired insurance company Fender Marine

Acquisition Highlights
  • This is Pen Underwriting’s 2nd transaction in the Insurance sector.
  • This is Pen Underwriting’s 1st transaction in Norway.

M&A Deal Summary
Date 2023-07-06
Target Fender Marine
Sector Insurance
Buyer(s) Pen Underwriting
Deal Type Add-on Acquisition

Target

Fender Marine

Bergen, Norway
Fender specializes in providing marine hull and protection & indemnity ("P&I") coverages for smaller fleets and specialist working vessels, as well as insurance for yachts and pleasure craft, cargo, and subsea equipment. Fender is based in Bergen and Oslo,

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Buyer(S) 1

Buyer

Pen Underwriting

London, United Kingdom
Category Company
Founded 2015
Sector Insurance
DESCRIPTION

Pen Underwriting provides IP underwriting practice to increase broker choice as value of intangible assets. Pen Underwriting was founded in 2015 and is based in London, England.

DEAL STATS #
Overall 2 of 2
Sector: Insurance M&A 2 of 2
Type: Add-on Acquisition M&A Deals 2 of 2
Country: Norway M&A 1 of 1
Year: 2023 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-03 Tay

City of London, United Kingdom

Tay provides coverages for marine liability, ports & terminals liability, marine war risks, and kidnap & ransom through its independent broker clients. Tay is based in City of London, England.

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