Pen extends SiriusPoint social housing deal through 2030

Pen Underwriting extended its capacity partnership with SiriusPoint  through at least 2030, enabling the MGA to write more than £300 million in premium over the extended term.

The agreement, reached ahead of the existing deal’s expiry, builds on a relationship established in 2024.

Pen’s social housing business serves not-for-profit housing associations that own, rent, and manage residential and commercial properties. Coverage includes buildings, contents, property owners’ liability, and terrorism.

Simon Perry, Pen’s Managing Director of Real Estate and Head of Social Housing, said the extension provides capacity stability and supports further investment in the offering. SiriusPoint’s Global Head of P&C Programs Patrick Charles cited confidence in Pen’s underwriting expertise, portfolio approach, and long-term strategy.