Pen Underwriting strikes new capacity deal with QBE
London-based managing general agent (MGA) Pen Underwriting has extended its strategic relationship with re/insurer QBE into the Republic of Ireland, with a new property & casualty capacity partnership in the area of hazardous goods and environmental industries.
The new partnership takes effect on the Jan. 01, 2018 offering brokers and clients in Ireland access to enhanced cover and a wider trade underwriting footprint.
The deal also complements Pen’s strategic partnership with Zurich, which provides capacity for Pen’s motor fleet solution in both the UK and Republic of Ireland for the hazardous goods and environmental sector, the company said.
“It’s great to be extending our UK property and casualty capacity partnership with QBE into the Irish market, where our appetites to grow and expand in this specialist sector are well aligned," said Adam Shefras, managing director of hazardous goods and environmental industries at Pen Underwriting.
"The ability to widen our underwriting footprint within our core trade areas to mirror our UK offering is also excellent news for our broker partners and we look forward to working together to help even more clients manage and mitigate their risks."
Mark Baker, casualty underwriting manager at QBE, commented: "With our existing property and casualty footprint in Ireland, and Pen’s established team of specialist underwriters in the hazardous goods industry, this new agreement with Pen represents a great opportunity to grow together. It’s also a natural extension to our strategic partnership in the UK."
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