Managing general agent Pen Underwriting has secured an extension to its capacity partnership with specialty underwriter SiriusPoint, which will provide capacity for the MGA’s social housing proposition until at least 2030. The two firms began their partnership in 2024.

The deal will enable Pen to write more than £300m in premium over the duration of the agreed partnership. Pen’s social housing practice caters to the not-for-profit housing association sector and provides insurance for buildings, contents, property owners’ liability and terrorism.

Simon Perry, managing director of real estate and head of social housing at Pen Underwriting, said: “Long-term, sustainable capacity is hugely important in a specialist market like social housing. Extending our partnership through to at least 2030 enables us to keep investing in our proposition and developing new and improved ways to best support housing association clients in managing and mitigating their risk exposures.”

Patrick Charles, global head of property and casualty programmes at SiriusPoint, added: “The social housing sector plays a vital role in supporting communities across the UK and we are proud to support a market where specialist knowledge, long-term partnerships and stability of capacity remain important.”