London, 1 June 2020, K2 Insurance Services, a leading underwriting and distribution franchise in the US program insurance market, is pleased to announce the establishment of K2 International, a specialty insurance and reinsurance underwriting platform, based in London.
K2 International has been created through the acquisition of the successful and established property catastrophe, commercial property, financial institutions and marine insurance and reinsurance books of Pioneer Underwriters and expects to underwrite up to $200m of premium in 2020. A highly ambitious business, K2 International’s plans include: organic growth, attracting talented underwriting teams, and acquiring high-quality specialist MGAs. This dynamic approach is designed to deliver exceptional underwriting services to its (re)insurance partners, all of whom remain in place following the transaction. The business will be chaired by Bob Kimmel (CEO, K2 Insurance Services) and run on a day-to-day basis in London by a Leadership Group comprising David Carson, Richard Coello, Robert Coker, Andrew Corton and Simon Holt.
Nathan Hunter, Director of K2 International, commented:
“We are set to deliver targeted distribution to our capital via in-depth, innovative underwriting, all of which are fundamental to our ambition to make the K2 Group the leading virtual (re) insurer in the world.”
Bob Kimmel, CEO of K2, said:
“This is an exciting step in K2’s ambitious international expansion. The K2 International team has outstanding underwriting skill, distribution and relationships that will be instrumental in our success. The experience of building a successful US franchise over the past 9 years and the quality of the K2 International offering, gives me confidence about our future. I am certain we will see significant growth and will attract like-minded individuals to join us as we expand to better serve our clients, carriers, brokers and investors wherever they are located across the globe.”
Notes for editors
About K2 International
K2 International is a specialty insurance and reinsurance underwriting platform, based at the heart of the London market. It is owned by K2 Insurance Services, a leading underwriting and distribution franchise in the US program insurance market. GWP in 2020 is expected to be $200m, across its four business sectors of property catastrophe, commercial property, financial institutions and marine sectors.
For more information, visit www.k2insinternational.com
About K2 Insurance
Based in San Diego, California, K2 Insurance Services, LLC was formed in 2011 by industry veterans Pat Kilkenny and President & CEO Bob Kimmel. Lee Equity Partners acquired a majority ownership interest in May 2019, with the objective to create a leading underwriting and distribution franchise in the program insurance market. Over the past nine years, K2 has assembled a core group of specialty insurers and MGAs located across the United States and in 2020 founded K2 International in London to further its expansion internationally.