Jensten Underwriting has unveiled a five-year deal that will see Zurich UK provide more than £300m of capacity to the managing general agent. The capacity will support Jensten Underwriting’s cross-class property, casualty and motor lines. It says the agreement enhances its scale, financial strength and long term stability.

Earlier this year, Jensten Group announced a restructure that created two trading divisions – broking and product and distribution. Jensten Underwriting is part of the product and distribution division, which also includes its schemes and affinity businesses.

The broking division comprises its regional broking and specialist lines and London markets teams as well as The Jensten Network.

Robert Organ, group CEO at Jensten, said: “A transaction of this scale and diversity at the current stage in our evolution under Bain ownership is a testament to the quality and credibility of Jensten Underwriting. It aligns and strengthens the confidence the market has in our underwriting capabilities, our people, our governance and, equally relevant, our ambition with one of the most trusted brands in the world.”

David Nichols, head of retail at Zurich UK, added: “In recent years, we have built a strong and trusted relationship with the team allowing us to accelerate our growth together. Jensten has developed a disciplined underwriting business with a clear focus on delivering for brokers and customers, aligning closely with our own commitment to supporting brokers and clients for the long term.”