Magenta secures Zurich capacity for home insurance

Magenta Insurance , part of DUAL UK, has signed a new capacity deal with Zurich to support its mid-net-worth (MNW) home insurance product.

The MNW segment has faced persistent under-insurance challenges, with inflation and rising asset values leaving many homeowners inadequately covered. High-value items such as art, antiques, and jewellery often shift hands without updated appraisals, creating gaps that standard home policies fail to address.

Magenta says the new Zurich partnership strengthens its ability to offer brokers tailored underwriting for homes with complex or specialist exposures. The company notes that several insurers have exited the MNW space in recent years due to the bespoke assessment brokers require, creating an opportunity for specialist players.

Zurich’s involvement expands its own growing specialist insurance portfolio and builds on its longstanding relationship with the broader DUAL group.

“A significant number of insurers have moved away from offering this cover in recent years, largely due to the commercial demands of brokers who require tailored underwriting assessment. Magenta’s expertise in specialty residential underwriting combined with our bespoke trading platform, has helped deliver an impressive underwriting performance year-on-year.” – David Reid, Chief Executive, Magenta.