UK-based specialist insurance firm Pen Underwriting has renewed its partnership deal with Markel International to augment its presence in the equestrian market.
The extended partnership follows the multi-year renewal of Pen and Markel’s existing capacity deal which began in 2017.
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Under the renewed partnership, Markel will continue to provide capacity for up to £25m in premiums over the next three years for Pen’s equestrian products.
Established 50 years ago, Markel provides equine insurance coverage and capacity for horse and horse-related risks.
Markel equine and livestock managing director Juliet Redfern said: “We’re delighted to renew our partnership with Pen Underwriting, which supports our mutual long-term commitment to the equestrian sector.
“From the start of the partnership, the Pen team’s extensive expertise, the ability to tailor solutions to wide-ranging customer needs and significant distribution strength has delivered huge value.
“Our Pen partnership continues to complement Markel’s existing equine footprint in the UK.”
Pen said its products are tailor-made for a range of different segments of the equestrian market such as happy hackers, trade associations, eventing and local riding clubs, among others.
The products are distributed through Pen’s equine-specialist delegated authority partners.
Pen Underwriting delegated solutions commercial director Seb Simmonds said: “Partnering with Markel, as a renowned equine specialist, with such a strong reputation and track record in developing policy enhancements, has proved a brilliant way to ensure our coverholders — all of whom are equestrian specialists in their own right — and end customers receive the full benefit of our collective expertise.”
