Pen Underwriting has finalised a multi-year renewal with Zurich that sees the insurer continue to provide 100% capacity for its specialist fleet insurance offering in the Republic of Ireland. The deal extends to approximately £38.5m of premium over the next three years.

Adam Shefras, managing director of hazardous goods and environmental industries at Pen Underwriting, said: “Our commitment to delivering long-term insurance solutions in Ireland for fleets operating in the hazardous or bulk liquid areas, is underpinned by our fantastic collaboration with Zurich, so this latest capacity deal is excellent news for all parties.”

Declan O’Halloran, director of sales and distribution for Zurich Insurance in Ireland, added: “Pen continues to be a great underwriting partner for us in the Republic of Ireland at this highly specialist end of the fleet market.

“We value the depths of their risk evaluation experience, their data-driven approach to disciplined underwriting and their focus on continuous improvement. Those qualities make the decision to extend our collaboration beyond 25 years an easy one, and we look forward to working together for many years to come.”