Pen Underwriting, a multi-class multi-territory managing general agent (MGA), has announced the extension of its decades-long strategic collaboration with Zurich in the UK, with a newly expanded multi-year specialist fleet capacity deal.
As of 1 January 2026, Zurich will now support Pen’s wider fleet risks portfolio, including its expertise in the passenger transport field of bus, coach and minibus risks.
Furthermore, the agreement allows Pen to offer terms for new fleet risks to existing customers who have relationships in other product areas.
This agreement is projected to see Zurich provide Pen with capacity to underwrite over £350 million in premium over the next five years.
The focus is on achieving sustainable growth and strategically expanding the portfolio to encompass other industries with specialist fleet risks that can benefit from Pen’s underwriting knowledge.
In addition to providing insurance solutions for a broader range of fleet risks, the new multi-year capacity deal will see enhanced levels of delegated underwriting and claims authority. These measures are designed to further improve speed of response, broker service and customer outcomes.
The expanded multi-year strategic partnership with Zurich now consolidates all Pen’s UK fleet specialisms under one capacity agreement.
Previously, the focus was solely on motor fleets and hazardous goods, tankers, and environmental industries – such as companies working in fuels & oil, chemicals, lubricants, LPG, liquid & hazardous waste and industrial cleaning as well as non-hazardous tanker operators.
Pen’s offering includes risk management, technical underwriting access, and 24/7 emergency spill response.
Pen has a similar long-term capacity arrangement with Zurich in the Republic of Ireland in support of the same sectors.
Adam Shefras, Managing Director of Hazardous Goods & Environmental Industries at Pen Underwriting, said: “Not only are we absolutely delighted to secure Zurich’s ongoing capacity commitment in support of hazardous and other bulk liquid fleet risks across the UK, but to be broadening out that partnership to encompass Pen’s other key fleet specialisms.
“The bus, coach and minibus sector is another highly specialist market, with limited participating insurers, where Pen offers long-held underwriting expertise, which we can now bring to more brokers and more clients.
“Pen’s longevity in these trades, combined with our lasting strategic collaboration with Zurich and high levels of underwriting and claims authority, means we are ideally placed to provide sustainable solutions and responsive service in sectors that have the potential for complex and catastrophic claims.”
Gordon Wilmott, Head of Public Services & Pen at Zurich Municipal, said: “We are delighted to be working with Pen Underwriting in an expanded capacity – building on our long-standing successful partnership. The passion and expertise shown by Pen to ensure the best outcomes for brokers and customers is something we particularly value and we look forward to achieving further success together.”
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