Insurance company Pen Underwriting has announced the extension of its strategic partnership with specialist insurer Markel International to further consolidate Pen’s presence in the equestrian market, following a multi-year renewal of their existing capacity deal.
The agreement builds on the strategic partnership which began in 2017 and will see Markel continue to provide expertise and capacity for up to £25m in premiums over the next three years for Pen’s equestrian products.
These products are tailored to meet the needs of different segments of the equestrian market, and are distributed through Pen’s carefully selected, 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, added: “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.”