Pen Underwriting acquires Ornella

Pen Underwriting has acquired Irish MGA Ornella Underwriting for an undisclosed sum, doubling its Irish operations to approximately €140 million in gross written premium.

Founded in 2012 and based in Wexford, Ornella has around 40 employees and generates approximately €70 million in GWP through a nationwide broker network. Led by CEO Paul Whelan, it offers car, van, fleet, home and commercial combined insurance, alongside specialist products for taxis, care homes and equine risks.

The acquisition broadens Pen’s existing Irish focus on haulage, transportation and fleet insurance, adding personal lines and commercial niches. Ornella will become part of Pen’s Irish operations, which were established in 2024.