Markel in strategic partnership with Pen Underwriting

London firm Pen Underwriting has extended its strategic partnership with specialist insurer Markel International to expand its presence in the equestrian market, following a multi-year renewal of their existing capacity deal.

Markel is a specialist in equine insurance and has provided coverage and capacity for horses and horse-related risks for more than 50 years.

The agreement, which builds on the strategic partnership which began in 2017, will see Markel continue to provide expertise and capacity for up to £25 million in premiums over the next three years for Pen’s equestrian products. Pen said these products are tailored to meet the needs of different segments of the equestrian market and are distributed through Pen’s equine-specialist delegated authority partners.

Seb Simmonds, commercial director of Pen Underwriting Delegated Solutions, said: “From happy hackers to trade associations, eventing to local riding clubs, the equestrian market presents diverse risks across its many different disciplines and an underwriting challenge that our dedicated team enjoys meeting head on. Partnering with Markel, as a renowned equine specialist, with such a strong reputation and track record in developing policy enhancements, has proved a brilliant way to ensure our coverholders — all of whom are equestrian specialists in their own right — and end customers receive the full benefit of our collective expertise.”

Juliet Redfern, managing director of equine and livestock at Markel, said: “We’re delighted to renew our partnership with Pen Underwriting, which supports our mutual long-term commitment to the equestrian sector. From the start of the partnership, the Pen team’s extensive expertise, ability to tailor solutions to wide-ranging customer needs and significant distribution strength have delivered huge value. Our Pen partnership continues to complement Markel’s existing equine footprint in the UK.”