In an effort to maintain expansion, K2 Insurance has revealed the new leader of K2 International.

In an effort to sustain its expansion, K2 Group Holdings Limited (K2 International) has a new leader, announced K2 Insurance Services, a well-known independent specialized insurance program manager.

Tyree Schoen

February 29, 2024

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Wealth

With effect from March 1, 2024, the firm announced that Richard Coello has been named K2 Group Holdings Limited's (K2 International) new CEO.

K2 International functions as a well-positioned underwriting platform for specialty insurance and reinsurance in the London market.

K2 International is a key player in the insurance industry as a subsidiary of K2 Insurance Services, a well-known underwriting and distribution franchise in the US program insurance market.

Forecasted Gross Written Premiums (GWP) for 2024 are expected to exceed $150 million, covering the portfolio's diversity across four major business sectors: credit, commercial real estate, financial institutions, and property catastrophe.

After Warburg Pincus completed its acquisition of K2 Insurance in December 2022, K2 International's global expansion was identified as a top objective. It is thought that Coello's entrance will only make these ambitions continue.

"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 new teams and acquisitions," stated Bob Kimmel, CEO and co-founder of K2 Insurance Services.

As the CEO of K2 International, Coello has a plethora of knowledge and a track record of successfully creating underwriting businesses.

In the past, he led the founding of K2 Financial and saw it expand from a startup to a $65 million premium company. Furthermore, Coello has been essential in helping to grow into the US direct and FinTech industries.

Coello and David Carson have been co-managing K2 International since its acquisition by K2 Insurance Services in May 2020. Throughout the company's many milestones, including its most recent acquisition by Warburg Pincus, Coello has given important direction.

The newly appointed CEO of K2 Group Holdings Limited (K2 International), Richard Coello, expressed his excitement about the role. "I am incredibly honored to have the chance to assist K2 International in this new phase of growth," he declared.

"Our parent firm and shareholders are eager to support us in concentrating on growth. He went on, "I am excited to meet the next generation of underwriting talent and give them the tools they need to launch great businesses of their own.