Pen Underwriting strikes PI capacity partnership to support UK solicitors

Gallagher owned Pen Underwriting has confirmed a new capacity agreement with hybrid insurer Bridgehaven on 18 August 2025, to support the MGA’s UK solicitors’ professional indemnity (PI) portfolio.

The deal will see Bridgehaven provide capacity for Pen Underwriting’s solicitors’ PI product set, which provides cover for sole practitioners through to firms with more than 20 partners.

The book currently features clients such as high street law firms and specialist practices operating across areas such as personal injury, criminal law, family law and immigration.

Tom Downey, chief executive at Pen Underwriting, said the capacity collaboration reflected the MGA’s long-standing position in the PI line of business.

“We are excited to be embarking on this new strategic partnership with Bridgehaven,” he said.

“[Its] operating model and ethos of working with MGAs based on transparency and trust, [its] focus on collaborative risk sharing and [its] long-term approach to partnership and performance resonates with our own priorities.”

Hybrid capacity

This capacity deal slightly differs to others Pen Underwriting has secured due to Bridgehaven’s model as a hybrid insurer – the business typically acts as a fronting insurer for MGAs while simultaneously tapping into reinsurance capacity, enabling it to cover larger or more complex risks than it otherwise might be able to.

Paul Jewell, chief executive at Bridgehaven, explained: “We are delighted to bring our hybrid insurance model, with the transparent relationships it fosters, to Pen Underwriting and its specialist solicitors’ PI portfolio.

”Our focus is on enabling MGAs, insurers and reinsurers to collaborate more effectively, matching appetites and mutual interests.

“Our aspiration is to be the leading hybrid insurer supporting innovative, well positioned MGAs and partner with them to grow highly profitable and sustainable portfolios.”

Downey added: “As a specialist class, solicitors’ PI naturally lends itself to this new form of capacity partnership for Pen, with our 25-year track record of disciplined sustainable underwriting and continuous support of UK law firms.

”Bridgehaven and our reinsurer partners can trust us to get on with what we do best – in terms of knowing our customers, the risks they present and delivering the excellent service brokers need – to produce positive results for all.”

This latest capacity arrangement builds on Pen Underwriting’s existing PI partnership with SiriusPoint, which was confirmed in July 2025. This specific deal sees SiriusPoint provide 100% capacity for Pen’s international PI portfolio.

SiriusPoint has additionally provided capacity for the MGA’s specialist social housing practice since April 2024.

Pen Underwriting has been active in solicitors’ PI since 2000, maintaining what Downey described as “continuous support” for the market over the last 25 years.