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February 27, 2024
SAN DIEGO--(BUSINESS WIRE)--K2 Insurance Services, a leading independent specialty insurance program manager, announces today the appointment of Richard Coello as CEO of K2 Group Holdings Limited (K2 International), taking effect on March 1, 2024.
Coello has a successful track record of building underwriting businesses having established K2 Financial from startup to a $65M premium business over the last decade and more recently adding additional products to the Fintech and US direct markets. He also previously founded Travelers Europe’s Financial Institutions division. Coello has co-managed the K2 International business with David Carson, since it was acquired by K2 Insurance Services in May of 2020 and provided guidance through the recent acquisition by Warburg Pincus.
Bob Kimmel, CEO and Co-founder of K2 Insurance Services said, “following the Warburg Pincus transaction, we see K2 International’s growth as one of our key strategic priorities, and this appointment demonstrates the trust we have in Richard to bring his success to date to new teams and acquisitions.”
“I am extremely proud to be given the opportunity to support K2 International in this new stage of development,” said Coello. “We have willing support from our parent company and owners to focus on growth. I am looking forward to meeting the next generation of underwriting talent and providing them with the infrastructure necessary to build their own successful businesses.”
K2 Insurance Services is an insurance services holding company that owns and controls a diverse set of MGAs, marketing, underwriting and servicing over $1 billion annually in niche commercial and personal insurance premiums. Our mission is to protect what matters most to our partners and clients through personalized and specialty insurance products by distributing innovative programs and products 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 with specialty insurance programs.
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 program insurance market. GWP in 2024 is expected to be more than $150M across its four business sectors of property catastrophe, commercial property, financial institutions and credit.
Katherine Moura, Chief Brand & Communications Officer
press@k2ins.com
