Managing general agent Pen Underwriting has struck a capacity deal with Hadron UK Insurance Company Limited that will enable it to write an additional £50m in gross written premium over the next three years. The agreement comes into effect on 1st September 2026.

The capacity will be used to provide cover for thatched homes, beach huts, touring and static caravans, chalets and park homes in the UK, Channel Islands and Isle of Man. Eligible properties will also have access to Flood Re support.

Pen Underwriting distributes its non-standard home insurance through brokers and specialist coverholders that hold delegated authority.

Andrew Booth, managing director of property and personal at Pen Underwriting, said: “The process of selecting Hadron as our new strategic partner for thatch and leisure highlighted many common strengths and priorities. Driven by a shared desire for speed to market, the team at Hadron demonstrated flexibility and rigour at every turn with a clear ability to structure and deploy capacity efficiently. We very much look forward to building on this first strategic partnership, in what is such an important niche market for brokers and their customers.”

Colin Johnson, international CEO at Hadron, added: “Thatch and leisure is a class of business where real underwriting judgement matters more than a standard rate table, and Pen's 25 years in this space made them a natural fit.”