Brown and Brown-owned MGA secures new £250m capacity deal with Zurich UK

Brown and Brown-owned MGA Plum Underwriting is extending its personal lines capacity deal with Zurich UK for another five years.

The partnership will provide capacity for the MGA’s UK non-standard home insurance portfolio.

This includes risks such as non-standard construction, unoccupied properties, subsidence and for those underserved in the community.

It is expected the deal will reach £250m in gross written premium (GWP) over the five-year term. Zurich UK said the deal was an important part of its retail growth strategy.

David Nichols, Zurich’s head of retail, said: “Partnerships are an important part of our retail strategy. It’s the longevity of these relationships that really pay dividends for our business. These long-term commitments with partners create a formula that enables both businesses to grow together.

“We’ve already seen the business written through Plum Underwriting double in the last five years, this is a trend we expect to continue.

“This move fully supports our ambitions to continue to provide personal lines specialist cover alongside our strategy to grow Zurich Private clients, offering these customers a wider range of cover.”

’Flourishing partnership’

Plum Underwriting was acquired by Brown and Brown in 2022 and forms part of Brown and Brown Europe’s underwriting business.

Dan Berry, chief underwriting officer at Brown and Brown Europe, said: “The extension of our partnership is testament to the success we’ve seen over the last five years. We have a strong niche proposition, which is delivering tailored solutions for our brokers and customers.

“Both Plum Underwriting and Zurich UK are fully focused on delivering the highest quality of customer service, it’s the alignment of these values that really make a partnership successful. This announcement reaffirms the longevity of an already flourishing partnership.”