Aviva strikes £100m-per-year capacity deal with Pen Underwriting
Pen Underwriting has announced a new multi-year strategic partnership with Aviva in support of its personal lines and property owners’ business, which will see the insurer providing capacity for over £100m in premium per annum.
Under the terms of the deal, Aviva will provide 100% capacity across these business lines within Pen’s personal lines division from 1 April 2023 for risks placed with the managing general agent via both coverholders and brokers.
The deal builds on Aviva’s existing partnership with Pen where it currently provides reinsurance capacity for its personal lines business.
Earlier this week Gareth Hemming, managing director of UKGI distribution & SME told Insurance Age it was “absolutely open for
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