Managing general agent Pen Underwriting has agreed an expanded multi-year capacity deal with Zurich that will support its fleet proposition. The deal extends the longstanding relationship to provide capacity for the hazardous goods, tankers and environmental industries and from the start of the year will also include Pen’s broader fleet risks portfolio, including passenger transport risks.

Pen said the deal would support it to write more than £350m in premium over the next five years. It also said the agreement increased its delegated underwriting and claims authority.

Adam Shefras, managing director of hazardous goods and environmental industries at Pen Underwriting, said: “Not only are we absolutely delighted to secure Zurich’s ongoing capacity commitment in support of hazardous and other bulk liquid fleet risks across the UK, but to be broadening out that partnership to encompass Pen’s other key fleet specialisms.

“The bus, coach and minibus sector is another highly specialist market, with limited participating insurers, where Pen offers long-held underwriting expertise, which we can now bring to more brokers and more clients.”

Gordon Wilmott, head of public services at Zurich Municipal, added: “The passion and expertise shown by Pen to ensure the best outcomes for brokers and customers is something we particularly value and we look forward to achieving further success together.”