Warburg Pincus’ K2 Launches London-Primarily based MGA, K2 Rubicon Specialty – Cyber Tech

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 referred to 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 threat 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 traces 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 providers 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 industrial and private insurance coverage premiums.

“We’re delighted to hitch K2’s increasing MGA platform in London, which prioritizes underwriting excellence and distinctive consumer service,” mentioned Wall in a press release. “I’m excited to steer this staff of seasoned insurance coverage professionals and leverage all the advantages that an MGA platform akin to K2 Insurance coverage Companies offers.”

“We’re thrilled to launch this new division and welcome such expert underwriting expertise to our staff,” 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, industrial 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 providers expertise, shall be a strong driver of K2 Worldwide’s success,” commented Bob Kimmel, CEO and co-founder of K2 Insurance coverage Companies, which was bought by Warburg Pincus in 2022.

Supply: K2 Worldwide (K2 Group Holdings)

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Extra Surplus
New Markets
Insurance coverage Wholesale
London