Pen Underwriting has signed a deal to extend its partnership with re/insurer SiriusPoint. SiriusPoint will provide 100% of the capacity for Pen’s international professional indemnity portfolio and offer cover for risks emanating from multiple professions and territories outside the UK and Ireland.

SiriusPoint supports Pen Underwriting across a number of sectors. Last year, it became the long-term capacity provider for Pen’s specialist social housing practice, which supports the not-for-profit housing association sector.

Tom Downey, CEO of Pen Underwriting, said: “We are delighted to be expanding our relationship with SiriusPoint into new sectors of specialist risk. International PI is an area of mutual appetite and well-positioned for growth.”

Rob Gibbs, president and CEO of SiriusPoint International, added: “We’re proud to extend our strategic partnership with Pen Underwriting, building on our support across Pen’s portfolio, which now spans social housing, marine, and professional indemnity.

“The partnership also extends our collaboration across the globe, as we leverage our valuable Lloyd’s platform. Our expansion with Pen is a strong example of how we’re realising our strategy to deepen existing relationships to deliver even greater value with our MGA partners.”