Product Governance

Property Owners

Target market statements will help you understand who each product is intended for, and who it’s not suitable for, based on our analysis. Our teams have created clear and concise fair value assessments for each of the Pen Underwriting products, so you can see our assessment of the value for your clients.

Please be aware that our target market statements (TMS) and fair value assessments (FVA) are intended to be used by insurance brokers, and are not meant to be shared with policyholders.

If you can’t see a target market statement or fair value assessment, or if any detail is unclear, you are required to notify us.  Please get in touch at agency.uk@penunderwriting.com. 

2025/26

Pen TMS_FVA Commercial Unoccupied 2025

Pen TMS_FVA Risk Managed Property Owners 2025

Pen TMS_FVA Commercial Property Owners (Endurance) 2025

Pen TMS_FVA Landlord (Delegated Authority) 2025

Pen TMS_FVA Landlord (Evolve-IHP) 2025

Pen TMS_FVA Terrorism (Property Owners) 2025

Pen TMS_FVA Residential Property Owners (Digital Schemes) 2025

Pen TMS_FVA Residential Property Owner_Block of Flats 2025

Pen TMS_FVA Residential Property Owners (Open Market) 2025

Pen TMS_FVA Non Standard and Unoccupied Residential Property Owners 2025