Pen Underwriting, a subsidiary of Arthur J Gallagher, has renewed its partnership with Zurich in the UK, through a revised multi-year capacity agreement linked to its specialist fleet insurance activity. 

The tie-up has supported motor fleet risks in the hazardous goods, tanker and environmental sectors for more than three decades.  

From 1 January 2026, Zurich will also provide capacity for Pen’s wider fleet book, including passenger transport risks such as coaches, buses and minibuses.  

The agreement also allows Pen to place terms on new fleet risks from existing clients where there is an established relationship in other product areas. 

The arrangement is expected to allow Pen to underwrite more than £350m in premiums over the next five years.  

The scope includes further development of solutions for fleet risks across industries that require specialist underwriting capability. 

Pen Underwriting hazardous goods & environmental industries managing director Adam Shefras said: “Not only are we absolutely delighted to secure Zurich’s ongoing capacity commitment in support of hazardous and other bulk liquid fleet risks across the UK but to be broadening out that partnership to encompass Pen’s other key fleet specialisms.  
 
“Pen’s longevity in these trades, combined with our lasting strategic collaboration with Zurich and high levels of underwriting and claims authority, means we are ideally placed to provide sustainable solutions and responsive service in sectors that have the potential for complex and catastrophic claims.” 

The updated agreement introduces “enhanced levels” of delegated underwriting and claims authority to support decision-making and improved broker interaction. 

Zurich’s support was previously limited to Pen’s fleet business serving hazardous goods, tanker and environmental operators.  

This included companies involved in chemicals, fuels and oil, industrial cleaning, liquid and hazardous waste, LPG, lubricants and non-hazardous tanker operations. 

Pen’s fleet proposition includes risk management and loss mitigation support, access to specialist underwriters and services such as 24/7 emergency spill response. 

Pen and Zurich also have a similar arrangement in the Republic of Ireland covering comparable sectors. 

In May this year, Pen Underwriting launched Pen Protect, an “improved” cyber risk management platform offering “enhanced” risk management tools for cyber policyholders worldwide.