Core Insights - Pen Underwriting has renewed its partnership with Zurich in the UK through a revised multi-year capacity agreement focused on specialist fleet insurance [1][2] - The agreement allows Pen to underwrite over £350 million in premiums over the next five years, expanding its capacity to include passenger transport risks [2][3] - The updated agreement enhances delegated underwriting and claims authority, improving decision-making and broker interaction [4] Partnership Details - The partnership has supported motor fleet risks in hazardous goods, tanker, and environmental sectors for over 30 years [1] - From January 1, 2026, Zurich will provide capacity for Pen's wider fleet book, including coaches, buses, and minibuses [1][2] - The agreement allows Pen to place terms on new fleet risks from existing clients with established relationships in other product areas [2] Strategic Importance - Pen Underwriting's managing director highlighted the importance of Zurich's ongoing capacity commitment for hazardous and bulk liquid fleet risks [3] - The collaboration aims to provide sustainable solutions and responsive service in sectors with potential for complex claims [4] - The previous support from Zurich was limited to hazardous goods and environmental operators, which included various industries such as chemicals and fuels [5] Additional Developments - Pen and Zurich have a similar arrangement in the Republic of Ireland covering comparable sectors [6] - In May, Pen Underwriting launched Pen Protect, a cyber risk management platform offering enhanced tools for policyholders worldwide [6]