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Pen Underwriting extends strategic partnership with Markel

Pen Underwriting extends strategic partnership with Markel | Insurance Business

Pen Underwriting extends strategic partnership with Markel

It seems Pen Underwriting and specialist insurer Markel International are continuing to hit it off as they have announced an extension of their strategic partnership following a multi-year renewal of their existing capacity deal.

The partnership, which began in 2017, allows Markel to provide expertise and capacity for up to £25 million in premiums over the next three years for Pen’s equestrian products.

“We’re delighted to renew our partnership with Pen Underwriting, which supports our [long-term mutual] commitment to the equestrian sector,” Juliet Redfern, managing director of equine and livestock at Markel, commented.

“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.”

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Pen will continue to distribute its equestrian products through its equine-specialist delegated authority partners.

“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,” Seb Simmonds, commercial director of Pen Underwriting Delegated Solutions, said.

“Partnering with Markel, a renowned equine specialist with such a strong reputation and track record in developing policy enhancements, has proved a brilliant way to ensure our cover holders — all of whom are equestrian specialists in their own right — and end customers receive the full benefit of our collective expertise.”