K2 Worldwide, the specialty re/insurance coverage underwriting platform that’s owned by personal fairness agency Warburg Pincus, introduced the launch of a London-based MGA known as K2 Rubicon Specialty.
The brand new MGA division was based by 4 market veterans from Ascot Group: Gavin Wall (Ascot’s former government underwriter); Parth Patel (Ascot’s former chief danger officer); Chris McGill (Ascot’s former head of Cargo and lively underwriter at Parsyl Syndicate 1796); and Matt Eve (former property class underwriter).
K2 Rubicon Specialty will write within the London market throughout a number of strains together with marine and US property.
London-based K2 Worldwide (formally working as K2 Group Holdings) is a unit of K2 Insurance coverage Companies, the insurance coverage companies holding firm in San Diego that owns and controls a set of MGAs – advertising, underwriting and servicing over $1 billion yearly in area of interest business and private insurance coverage premiums.
“We’re delighted to hitch K2’s increasing MGA platform in London, which prioritizes underwriting excellence and distinctive shopper service,” mentioned Wall in a press release. “I’m excited to steer this group of seasoned insurance coverage professionals and leverage all the advantages that an MGA platform equivalent to K2 Insurance coverage Companies supplies.”
“We’re thrilled to launch this new division and welcome such expert underwriting expertise to our group,” mentioned Richard Coello, CEO of K2 Group Holdings Ltd. “Their experience will considerably improve our profile and capability supplier providing out there.” (K2 Group Holdings, or K2 Worldwide, expects gross written premium of greater than $150 million throughout its 4 enterprise sectors of property disaster, business property monetary establishments and credit score.)
“The expansion of K2 Worldwide is a strategic precedence for us. The launch of K2 Rubicon Specialty, mixed with the addition of such extremely regarded insurance coverage companies expertise, will probably be a robust driver of K2 Worldwide’s success,” commented Bob Kimmel, CEO and co-founder of K2 Insurance coverage Companies, which was purchased by Warburg Pincus in 2022.
Supply: K2 Worldwide (K2 Group Holdings)
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