Managing general agent Pen Underwriting has agreed a multi-year deal with insurers Zurich and Hiscox for its non-standard household insurance business in the UK, Channel Islands and Isle of Man. Zurich already supports Pen in areas such as specialised fleet cover, while the backing from Hiscox marks the beginning of a new relationship.

Pen’s non-standard home business comprises mid-net worth properties as well as those with unusual features or occupancy arrangements. The capacity backing took effect from 1st April.

Andrew Booth, managing director of property and personal at Pen Underwriting, said: “We are absolutely delighted to be expanding our decades-long capacity collaboration with Zurich into non-standard household risks and excited to be joining forces with Hiscox in its first strategic partnership with Pen.”

Gareth Hemming, chief distribution officer at Hiscox UK, said: “A new strategic partnership with Pen, a high-quality partner with a proven track record in specialist markets, is another step in our journey to expanding into adjacent niches and further growing our distribution footprint.”

David Nichols, head of retail at Zurich UK, added: “Our specialist insurance portfolio has grown significantly over the last few years, and we are committed to supporting partners in delivering long-term value and sustainable growth.”