Gallagher's Pen and Zurich ink motor capacity deal in Ireland
London-based managing general agent (MGA) Pen Underwriting and Zurich Insurance Group have extended their strategic partnership with a new specialist fleet capacity deal covering hazardous industries and tanker transportation in the Republic of Ireland.
The MGA has signed a second multi-year agreement with Zurich following a recent five-year capacity deal to support the same sector in the UK.
The new agreement will see Zurich provide capacity over the next three years for Pen’s hazardous goods, tankers and environmental industries’ motor fleet proposition in Ireland.
Pen’s products in this area cater to companies working in fuels & oil, chemicals, lubricants, LPG, liquid & hazardous waste as well as non-hazardous tanker operators.
“We’re thrilled to extend our relationship and secure this capacity commitment from our partners at Zurich in the Republic of Ireland," said Adam Shefras, managing director of hazardous goods & environmental industries at Pen.
"In challenging and turbulent times, stability and security in specialist insurance areas become more important than ever – especially when the sector you are supporting has the potential for catastrophic losses and complex, environment-impacting claims. Pen’s longevity in these trades in both the UK & Ireland, our underwriting expertise and loss mitigation experience, coupled with longevity of our partnership with Zurich, means we are ideally placed to provide brokers and their clients with the long-term sustainability and assurance they are seeking,” he added.
Brian Scannell, head of sales & distribution, general insurance at Zurich, said: “Pen has been a great underwriting partner for us in the Republic of Ireland, delivering all the data, discipline, distribution and drive for continuous improvement we’re looking for in such a specialist area of the fleet insurance market. We’re extremely pleased to extend our 20+year relationship, and look forward to building on it further, together with our broker partners, over the years to come.”
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