Source Insurance has appointed managing general agent Pen Underwriting to its home insurance panel. Pen has a focus on non-standard risks and the move will expand Source’s ability to cover a wider range of clients, such as those with flood-exposed properties, due to Pen Underwriting’s Flood Re capability.

Source Insurance specialises in providing home and landlord insurance solutions to advisers and their clients across the UK. The deal with Pen Underwriting enhances its risk coverage and available capacity.

Jonathan Pinkerton, finance and insurer relationship director at Source Insurance, said: “Our strategy is centred on making it easier for advisers to place GI business with confidence. Expanding our panel with Pen Underwriting broadens our risk appetite and underwriting capability, including more support for flood-exposed properties where appropriate. This strengthens our overall proposition and reinforces our commitment to sustainable growth and adviser support.”

Leo Downes, head of household and personal lines at Pen Underwriting, added: “Source Insurance shares Pen’s focus on making the specialist available as standard, through effective partner collaboration. With the rising demand for specialist home insurance, we’re delighted to be bringing our comprehensive cover options including Flood Re capability to even more customers with non-standard needs through Source’s network of trusted advisers.”

Pen manages gross written premium of approximately £1bn and is pushing to grow that to £1.75bn by 2030 through a combination of organic and acquired growth.