Underwriting firm Pen teams up with Bridgehaven Specialty UK for partnership venture
Expanding Capacity and Support for UK Solicitors' PI Market
Pen Underwriting has announced a new strategic partnership with Bridgehaven Specialty UK Limited, aiming to strengthen its professional indemnity (PI) offering for solicitors in the UK. This collaboration will see Bridgehaven provide capacity for Pen’s diverse PI portfolio, which spans from sole practitioners to firms with 20 or more partners, across various legal specialisms such as personal injury, criminal, family, and immigration law.
A Hybrid Approach to Solicitors' PI Underwriting
Bridgehaven acts as a capacity provider under a hybrid insurance model, supporting Pen’s underwriting footprint in solicitors’ PI. The agreement, which became effective on 15 August 2025, falls within a broader trend of new-style collaborations involving managing general agents (MGAs), fronting insurers, and reinsurers aligned by shared strategy and trust.
Meeting the Demands of the UK Solicitors’ PI Market
The partnership aims to meet the rising demand in the UK solicitors’ PI market through enhanced capacity and collaborative risk-sharing. It also seeks to support a growing and evolving MGA marketplace with sustainable and profitable portfolios. The partnership emphasizes a hybrid insurer business model tailored to support innovative MGAs like Pen.
Improving Market Resilience and Innovation
The partnership broadens Pen Underwriting’s capacity and underwriting reach, enabling it to serve a wider solicitor clientele. It reflects a shift in the insurers’ market toward hybrid models and collaborative MGA partnerships, which may improve market resilience and innovation.
Sustaining Profitable and Sustainable PI Portfolios
Pen Underwriting continues its role as a managing general agent, leveraging its 25 years of experience and in-house PI claims expertise. The partnership focuses on growing highly profitable and sustainable ensuing PI portfolios, benefiting solicitors seeking indemnity protection.
Strengthening Pen Underwriting's Position
The new capacity deal is significant as it further strengthens Pen Underwriting’s position in the solicitors' PI insurance market. This is further evidenced by the acquisition of Manchester Underwriting Agencies Limited and its wholly owned subsidiary Manchester Underwriting Management Limited ("MUM") for an undisclosed sum. MUM, established in 2010 as a specialty underwriting agency by Charles Manchester, adds to Pen Underwriting's commitment to the solicitors' PI insurance market.
A Long-Term Partnership Approach
Tom Downey, CEO of Pen Underwriting, is excited about the new partnership with Bridgehaven, stating, "We are delighted to be partnering with Bridgehaven, a leading hybrid insurer in the UK. This partnership will enable us to continue providing our solicitor clients with the high-quality PI cover they require, while also supporting the growth of the UK solicitors' PI market." Paul Jewell, CEO of Bridgehaven, shares this sentiment, expressing his delight to bring their hybrid insurance model to Pen Underwriting.
Extra Coverage for the Legal Sector
The new capacity deal provides extra coverage for the legal sector in case of potential legal disputes, offering solicitors additional peace of mind in the "divide and rule, cancel culture, I'm offended social media world." The partnership fosters transparency, trust, and a long-term partnership approach between the two firms, emphasizing a hybrid insurer business model tailored to support innovative MGAs like Pen.
In summary, this partnership strengthens Pen’s PI offering by leveraging Bridgehaven’s capacity and hybrid insurance expertise, aiming to address the UK solicitors' PI market's dynamic demands through collaborative, transparent, and sustainable underwriting practices.
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