Pen Underwriting secures £100m capacity deal
Pen Underwriting has signed a capacity agreement that will allow it to write £100m worth of solicitors’ professional indemnity business over three years.
The MGA said the agreement is backed by A-rated security and existing capacity partners.
Pen has been providing solicitors’ PI since September 2000, and the new deal will take its commitment past the 25-year milestone and through to 2026.
According to the company, the new capacity will be used to provide cover of up to £3m across its underwriting footprint, which includes clients ranging from sole practitioners to firms with 20 or more partners, for forthcoming 2023 renewals.
BrokersPaul
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