K2 International Launches New Division: K2 Professional Indemnity Limited

Business Wire

LONDON--(BUSINESS WIRE)--
K2 Group Holdings Limited (K2 International), a division of K2 Insurance Services and a leading specialty insurance and (re)insurance underwriting platform based in London, is pleased to announce the launch of K2 Professional Indemnity Limited (K2 PI). This new division, founded by Richard Smart, will write international (non-US) professional liability business on behalf of a group of Lloyd’s of London syndicates.

Smart, a 40-year London market veteran, brings extensive underwriting experience to the platform following senior tenures at Newline, Aspen, and Allianz. This launch bolsters K2 International’s specialised portfolio, complementing its existing financial lines suite which includes K2 Financial, K2 Professional (US professional liability business), and the newly acquired K2 Executive Risk.

Richard Smart, Managing Director of K2 PI, commented: “I am thrilled to join K2 International to launch this new division. I believe there will be real market interest in a specialised international professional indemnity offering with Lloyd’s backing. K2’s entrepreneurial culture provides the perfect platform to provide outstanding service for our brokers and outperform the market for our carriers."

Richard Coello, CEO of K2 International, said: "We are incredibly excited to begin trading with K2 Professional Indemnity. Richard Smart is a recognised leader in this sector, and we look forward to seeing the growth and value he will deliver for our broker partners and capacity providers.”

About K2 Group Holdings Limited (K2 International)

K2 Group Holdings Limited (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 programme insurance market. Its underwriting divisions include: Commercial Property, Financial Institutions, Marine, Political Violence, Terrorism and Credit.

About K2 Insurance Services

K2 Insurance Services is an insurance services holding company that owns and controls a diverse set of MGAs, marketing, underwriting and servicing nearly $2 billion annually in niche commercial and personal insurance premiums. Our mission is to protect what matters most to our partners and clients through personalised and specialty insurance products distributed through trusted direct, retail and wholesale channels. Formed and led by successful insurance industry veterans and backed by Warburg Pincus, K2 is leading the way in specialty insurance programmes.