Pioneer agrees deal with K2

Pioneer Underwriters has agreed commercial terms for a transaction with US-based specialty insurance services holding company, K2 Insurance Services. The deal will be the company’s first acquisition outside of the US.

The London-headquartered firm is expected to form the basis for a new international platform for K2. This will initially include the firm’s offerings in property cat reinsurance, financial institutions, international property facultative and marine specialty, which together will write approximately £150m in GWP in 2020.

Chief executive officer of Pioneer, Andrew McMellin said K2’s vision of building a broad and service driven group of expert underwriting businesses, with an added expanding international focus, was clear appeal for its underwriting teams and support staff.

Chief executive officer of K2, Bob Kimmel added: “Pioneer’s underwriting leadership have the skills, customer commitment and capital relationships that are an excellent fit for K2. We look forward to working closely with them as we build an international distribution platform to complement our existing US business.”

    Share Story:

YOU MIGHT ALSO LIKE