Pen Underwriting targets continued growth in property owners’ sector with new multi-year capacity deal
Published On : 13 Aug 2026
Pen Underwriting, the multi-class multi-territory managing general agent (MGA), has announced a new increased multi-million-pound capacity deal to underpin the strong growth and performance of its UK property owners’ practice.
The multi-year agreement follows Pen’s significant investment in its Property Owners proposition, with a highly experienced team of professional underwriters supported by enhanced pricing and data-led decision making. Pen’s investment into its digital proposition has resulted in greater risk quotability, improved conversion rates, and increased year-on-year policy count growth, while maintaining underwriting discipline.
The new deal will enable Pen to write £120 million in premium over the next three years with a continued focus on sustainable growth, while brokers benefit from Pen’s broad underwriting appetite, ease of securing cover and ability to trade in multiple ways.
A+ rated* capacity is provided by Endurance Worldwide Insurance Limited (EWIL) and builds on the success of an initial three-year partnership with Pen’s property owners’ practice – first through the more complex, individually transacted policies before extending its backing last year to include Pen’s digital propositions. The new deal effectively doubles the capacity provision agreed with EWIL in 2023, reflecting the parties’ broadened strategic relationship and mutual commitment to sustainable growth in this specialist sector.
Pen’s UK-focused property owners’ practice offers insurance solutions for a diverse range of risks across commercial and residential, blocks of flats, standard and non-standard, occupied and unoccupied properties. The digital proposition can be accessed via Pen’s own proprietary platform – Pen Central – or software houses including Acturis and Open GI, with a team of experienced and empowered underwriters on hand to deal with referrals, more complex risks, higher sums insured or larger portfolios.
Pen’s in-house claims service also ensures all property owner clients and their brokers have a dedicated team with the expertise to deliver individualised support, adding value at every stage in the claims process.
“We are delighted to be building on our successful partnership with Endurance in this way,” said Caroline King, Head of Property Owners’ Insurance at Pen Underwriting, “enabling even greater numbers of UK property owners to benefit from our flexible cover and experienced team while supporting shared ambitions for sustainable growth.
“Our commitment to delivering fast, effective solutions for brokers and their property owner clients in what is a dynamic market has seen us invest in enhanced data and analytics to ensure that increased quotability and conversion sit alongside our strict underwriting discipline. This has enabled more risks to go straight through the digital trading process due to reduced referral triggers, with a greater ability to make real-time pricing adjustments based on what the granular data is telling us. At the same time, increasing our underwriter resource has seen higher conversion when risks are referred, ensuring retention rates remain strong and that we win more often on new business too.
“Pen’s ability to cover a diverse range of property owner risks – commercial and residential, standard and non-standard, occupied and unoccupied – stems from that continued focus on expert underwriting underpinned by risk and data analytics. We pride ourselves on maintaining a flexible approach so that brokers can trade with us in the way that suits them, whether in a digital environment or direct with an underwriter.”
*Independent ratings from third party rating companies. Correct as at August 2026.
