Pen Underwriting agrees major new consortium backing for its non-standard home specialism
Published On : 01 Apr 2026
Pen Underwriting, the multi-class multi-territory managing general agent (MGA), has announced a major multi-year strategic partnership in support of its non-standard household insurance business in the UK, Channel Islands and Isle of Man.
As of today – 1 April 2026 – the new consortium will see A-rated insurers Zurich and Hiscox provide support for Pen’s specialist property insurance business. This encompasses a large mid-net worth portfolio as well as risks that are typically difficult to place within a standard market, such as homes with unusual features or occupancy and customers with specialist risk criteria, and is supported by Flood Re capability.
The agreement will leverage Pen’s extensive experience and expertise in underwriting and distribution, insight and pricing, governance and claims handling. The consortium will empower Pen through a delegated arrangement and provide first-class security on a long-term basis, for the benefit of Pen’s distribution partners and end customers.
The deal builds on Zurich’s existing strategic partnership with Pen across multiple lines of business, most notably their long-standing collaboration in the UK and Ireland providing capacity for Pen’s specialist fleet business. This covers everything from fuel tankers and chemical carriers to hazardous waste and passenger transport.
For Pen and Hiscox, the multi-year agreement marks a brand-new strategic partnership focused on a shared commitment to sustainable, profitable growth in the non-standard property insurance market.
Andrew Booth, Managing Director of Property & Personal at Pen Underwriting, said: “We are absolutely delighted to be expanding our decades-long capacity collaboration with Zurich into non-standard household risks and excited to be joining forces with Hiscox in its first strategic partnership with Pen. Their collective backing, and trust in Pen’s proven expertise in underwriting, means we have significant scope to grow our already large portfolio and meet the rising demand for specialist property insurance as well as from customers with standard homes but specialist needs.
“In recent years, the non-standard household market has restructured itself, tapering to providers with long-standing, data-led expertise and a track record in writing these risks sustainably and profitably – while other insurers have chosen to move away from such risks. Our own commitment remains resolute, and we look forward to continuing to help brokers deliver great customer outcomes in more complex risk scenarios.”
Gareth Hemming, Chief Distribution Officer at Hiscox UK, said: “Hiscox UK is already an established leader in the high-net-worth property market. A new strategic partnership with Pen, a high-quality partner with a proven track record in specialist markets, is another step in our journey to expanding into adjacent niches and further growing our distribution footprint.”
David Nichols, Head of Retail at Zurich UK, said: “We are delighted to extend our long-term strategic partnership with Pen Underwriting building on many years of successful collaboration. Our specialist insurance portfolio has grown significantly over the last few years, and we are committed to supporting partners in delivering long-term value and sustainable growth. Pen’s expertise and focus on portfolio performance will ensure that we continue to achieve further success.”
