Pen Underwriting and QBE extend partnership

Gallagher’s MGA unit Pen Underwriting has extended its strategic partnership with QBE Insurance in the UK and Ireland with the renewal of two capacity deals related to the hazardous goods and environmental industries.

QBE will provide more than £400 million in capacity as part of the multi-year partnership.

The first agreement, set for three years, focuses on Pen’s public sector business, RMP. QBE will provide capacity across property and casualty, financial lines, and motor fleet risks, including those for police authorities.

The second agreement, set for five years, addresses Pen’s offerings for the hazardous, environmental, and bulk liquid industries. QBE’s capacity will support property and casualty risks, as well as excess-of-loss coverage.