Pen Underwriting extends international ports and terminals coverage to US risks as investment in marine specialism continues

Published On : 19 Feb 2025

Pen Underwriting has continued investment in its fast-growing marine practice by expanding its international ports and terminals (P&T) specialism to cover US risks, thereby ensuring it can cover every jurisdiction worldwide.

The move is a natural evolution based on the strong and consistent performance of Pen’s rest-of-world ports and terminals portfolio. The new pan-US capability means everything from the Gulf of Mexico to Alaska and from the Pacific to the Atlantic – as well as US-administered territories such as Puerto Rico and Guam – can be looked at and written by Pen’s team of experienced specialist underwriters, in addition to their established rest-of-world capabilities.

Paul Hartley, Co-Managing Director of Marine at Pen Underwriting, said: “Our strong ports and terminals’ portfolio performance elsewhere in the world meant the time was right to bring our expertise to the US market, as brokers are always on the lookout for new or alternative propositions to recommend to their clients in this niche area of the international marine insurance market.

“The team’s success in quickly establishing itself as a key market for ports and terminals’ risks hasn’t been built on skills, experience and technical expertise alone. But on a reputation for responsiveness, first-class service and customised client solutions.

“Being able to now offer the final piece of the ‘global P&T jigsaw’ – in terms of covering the wealth of US risks out there – is testament to how both aspects have combined to deliver excellent underwriting results and thus capacity confidence to extend our offering in this way. We look forward to working closely with brokers to further our support of this crucial component of worldwide trade and distribution, which underpins the global economy.”

Backed by the A-rated security of Lloyd’s syndicates and London market capacity*, Pen’s ports and terminals team tailors its insurance solutions to reflect the evolving risks and exposures of their clients’ diversifying activity and across their liability, property, handling equipment, business interruption, and hull & machinery exposure.

The specialist team provides risk management, claims service and insurance solutions for ports and terminals across the world, working closely with brokers and specialist consultants to deliver a complete insurance solution and goes to market as BMM P&T Ltd, a trading name of Pen Underwriting Limited.



* Independent ratings from third party rating companies. Correct as at February 2025.