K2 Group Holdings Limited (K2 International), a London-based specialty re/insurance underwriting platform and division of K2 Insurance Services, has launched K2 Professional Indemnity Limited (K2 PI), a new division that will write international (non-US) professional liability business on behalf of a panel of Lloyd’s of London syndicates.
The new division is founded by Richard Smart, and will reportedly bolster 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.
Smart, who will serve as Managing Director of K2 PI, is a 40-year London market veteran, having served in senior underwriting roles at Newline, Aspen, and Allianz.
He 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.”
