Pen Underwriting secures multiyear capacity deal for thatch and personal leisure

Pen Underwriting has secured capacity from Hadron UK for its UK thatched and personal leisure property risks market products.

The multiyear agreement will enable the MGA to write a further £50m in gross written premium over the next three years.

The proposition helps brokers and their homeowner clients proactively manage challenges associated with non-standard construction risks.

It covers thatched homes, beach huts, touring and static caravans, chalets and park homes in the UK, Channel Islands and Isle of Man.

Leo Downes, head of household and personal lines at Pen Underwriting, said: “Successfully and sustainably underwriting non-standard construction risks — particularly thatched homes and leisure-focused property — requires rigorous risk management, quality data, specialist expertise and a proven track record.

”Our experience in this sector stretches back 25 years, meaning we can offer brokers tried and tested insurance solutions that really deliver when their customers are most in need, while making sure we are here for the long-term. We are excited to partner with Hadron and continue our commitment to this highly specialist segment of the non-standard home insurance market.”

Enforcement date

The new deal will come into effect on 1 September 2026.

Colin Johnson, international chief executive at Hadron, said: “Partnering with Pen Underwriting reflects the kind of long-term, disciplined relationship we set out to build at Hadron.

”Thatch and leisure is a class of business where real underwriting judgement matters more than a standard rate table and Pen Underwriting’s 25 years in this space made them a natural fit. We’re excited to get started and we see this very much as the beginning of a partnership we expect to grow for years to come.”

Andrew Booth, managing director of property and personal at Pen Underwriting, added: “The process of selecting Hadron as our new strategic partner for thatch and leisure highlighted many common strengths and priorities.

”Driven by a shared desire for speed to market, the team at Hadron demonstrated flexibility and rigour at every turn with a clear ability to structure and deploy capacity efficiently. We very much look forward to building on this first strategic partnership, in what is such an important niche market for brokers and their customers.”