In the latest Davies Q&A we sit down with the founders of Pantheon Insurance Brokers, Rob Dowman and Michael Lee to discuss what led them to establishing Pantheon, how the business has grown since and everything in between.  

Q: What led you to establish Pantheon? Was there a specific gap in the market you were looking to address? 

Rob Dowman: The idea for Pantheon came from our shared sense that the traditional broker landscape was shifting in a direction that didn’t align with how we believed client relationships should be managed. In recent years, the volume of private equity-backed consolidation meant many previously independent firms became absorbed into much larger entities, often competing ones. That consolidation caused disruption — not just internally, but for clients who valued the independence and specialism of the brokers they had chosen to work with.

Our vision was to create a business that put clients back at the centre, led by insurance people rather than finance executives. That independence — in ownership, decision-making, and mindset — is something we believed the market needed more of.

Michael Lee: We saw a clear opportunity to build something different: a platform that prioritises expertise, agility, and client service over bureaucracy. For us, this wasn’t just about starting a new business; it was about restoring the core principles of broking — long-term relationships, deep technical knowledge, and the ability to move quickly in the client’s interest. 

Q: How did your previous experience at larger brokers inform the direction Pantheon would take? 

Rob: Having spent time within large corporate structures following the sale of Besso, I learned first-hand what can be lost in those environments. Decisions start to be made at a financial level, with less regard for the nuance of client needs or the judgement of experienced brokers. That creates misalignment. For me, it reaffirmed the importance of building a business that would allow talented people to simply do their jobs well — free from unnecessary interference.

Michael: We had both experienced the shift in culture that happens when ownership changes hands. It made us very clear about what kind of firm we wanted to build — one with an entrepreneurial culture, where people are empowered and supported, not constrained. 

Q: What were your top priorities in the early stages of launching Pantheon? 

Rob: From day one, our focus was on building the right infrastructure to support scale. We didn’t just want to get up and running — we wanted to build a platform that could evolve and grow with the business. That meant putting proper systems, governance, and compliance in place early — even before we strictly needed them. It was an investment in long-term credibility and operational resilience.

Michael: Those first hundred days involved a steep learning curve. Having always operated within established environments, we quickly had to get to grips with everything from regulatory requirements to building internal workflows from scratch. It was intense — but essential. We were determined not to compromise on the quality of the platform we were creating. 

Q: What role did Davies play in supporting Pantheon during that launch phase? 

Michael: Davies was a critical partner. Their Appointed Representative framework gave us immediate regulatory coverage, allowing us to begin trading from day one. More importantly, they had the credibility, market relationships, and operational infrastructure we needed to support our onboarding and client engagement at pace.

Rob: Davies provided hands-on support across compliance, reporting, and operational workflows. They also had long-standing relationships with many of the same counterparties and capacity providers we were working with, which made transitions much smoother. The practical support was invaluable — but so was the reputational support. Davies’ backing helped reassure clients, markets, and our own team that we had the right foundation in place. 

Q: Pantheon has a strong presence in complex U.S. casualty. What makes that segment so core to your proposition? 

Rob: U.S. casualty is historically our background — it’s where many of our long-standing client relationships sit, and where we’ve built a reputation over many years. It’s a space that demands a high level of technical skill, cross-border understanding, and the ability to handle complex placements. We’ve always found that environment to be where we add the most value.

Michael: While U.S. casualty remains central, we’ve also diversified rapidly into other areas such as Property, professional and financial lines and technology and innovation. Our client base has evolved, and we’ve brought in specialist talent to support those verticals. The aim is to build a platform that reflects the breadth of our clients’ needs, not just one line of business. 

Q: How did your client base respond in those early months? 

Michael: The support we received from clients was incredibly encouraging. We always believed in the strength of those relationships, but we didn’t take anything for granted — particularly after a year out of the market. Seeing clients return so quickly, and in such numbers, was both humbling and empowering.

Rob: We said from the outset that we would never assume support — we had to earn it again. But the fact that clients followed us speaks volumes about the trust that existed, and hopefully about the quality of what we’ve built since. 

Q: As the business has grown, how have you approached building your team and company culture? 

Rob: We’ve built Pantheon to be a place where entrepreneurial people can thrive. That’s been part of the attraction for the individuals who’ve joined us — a broker-built platform run by people who understand the pressures and realities of the job.

Michael: We’re now 50 strong, and looking to double that over the next 12 months. Much of the recent growth has come from direct approaches. We’ve reached a point where results speak for themselves. People know what we’re building, and they want to be part of it. Culture-wise, we’re collaborative and transparent. We know what we’re good at, and we’re honest about where we want to improve. That humility and focus resonates with the kind of people we want around us. 

Q: What are your strategic priorities over the next 12–24 months? 

Rob: The emphasis remains on service and regulation. We’re growing, yes — but growth will never come at the expense of quality. We have a clear plan, but we also give ourselves permission to evolve that plan if client needs change. Agility is part of the model. 

Technology will also play a significant role. We’re focused on creating efficiencies through proper use of integrated systems, and on ensuring our clients can interact with the London market as easily as possible. There’s an increasing reliance on tech — not just for efficiency, but for modernisation — and because we’re not constrained by legacy systems or excessive internal processes, we can adopt what works and move quickly when it supports our clients.

Michael: We’re looking to expand meaningfully across key verticals — property, financial lines, tech and innovation, and reinsurance. That means continuing to bring in the right subject matter experts and giving them a platform to succeed. 

Q: Are there any headwinds or external factors you’re keeping an eye on? 

Michael: The macroeconomic environment is the biggest variable — from geopolitical risk to broader global uncertainty. These are factors outside our control, but they do shape the risk landscape and client behaviours.

Rob: From a market perspective, we’re confident in our ability to adapt. Our size and independence mean we’re nimble — we can move quickly and decisively when needed. 

Q: What’s been the most rewarding moment for you personally since launching Pantheon? 

Rob: Achieving Lloyd’s broker accreditation was a major milestone. It signified a level of maturity and credibility that we’re proud of, and it reinforced that we’re building something sustainable.

Michael: For me, it’s seeing the platform come to life. From a standing start to where we are now — with a strong team, robust infrastructure, and meaningful client engagement — it’s something we take a great deal of pride in. 

Q: Finally, what advice would you give to someone looking to launch a broking venture today? 

Rob: Be deliberate. Build properly. Don’t compromise on governance or infrastructure just to get to market faster — it’s false economy.

Michael: And choose the right partners. We couldn’t have achieved what we have without Davies alongside our only external shareholder, BP Marsh. Their operational expertise and flexibility allowed us to focus on building the business — and doing right by our clients — from day one.