Incoming Pen Underwriting Australia CEO Ken Keenan aims to “create value in new and interesting ways” when he takes over on January 1.

As reported in a Breaking News bulletin earlier today, parent company Arthur J Gallagher announced Mr Keenan will replace Gary Marshall, who is retiring.

“Pen is an impressive offering and there is a lot we can do to build on its strong value proposition to create value in new and interesting ways,” Mr Keenan said.

“I look forward to working with [Mr Marshall] over the coming months to ensure a smooth transition for our people and our clients.”

Mr Keenan is currently Gallagher’s GM Branch Operations, a role he took on this year.

He was previously CEO of the Canadian broking division in Toronto.

Gallagher MD for Australia and New Zealand Steve Lockwood says Mr Marshall has made a significant contribution over the past 17 years.

“While his are large shoes to fill, we are delighted to backfill from within and ensure the best possible transition for our clients and our team,” he said.

“[Mr Keenan] has a number of leadership roles under his belt, including several roles that include an underwriting focus.”