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.
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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.”
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