Ageas signs five-year household deal with Pen Underwriting

Ageas has signed a five-year deal to provide underwriting capacity for Arthur J Gallagher’s managing general agent, Pen Underwriting.

Ageas will fully delegate underwriting, claims and administration authority to Pen’s non-standard household e-trading division.

The household products will be distributed through Pen’s auto-rated model on the major software houses and bespoke broker facilities.

Pen Underwriting managing director Mark Armitage said: “Our partnership with Ageas will enable us to deliver a longevity and consistency of service to our producer partners while giving our distributors access to more cover, more quickly and for a much wider range of risks. For non-standard customers, that means more choice, more often.”

Ageas underwriting director Adam Clarke said: “We are pleased to have formed this partnership with Pen Underwriting and are looking forward to working with them closely in the years to come to deliver value and expertise on both sides as well as to customers. This new partnership will significantly strengthen our household proposition in both standard and non-standard markets.

“This agreement supports our strategic development of developing in niche and non-standard markets where it is profitable to do so.”