Two veteran insurance industry executives – Pat Kilkenny, former Chairman and CEO of Arrowhead General Insurance Services, Inc., and Bob Kimmel, former Guy Carpenter & Co., LLC, executive vice president – have formed K2 Insurance Services, LLC, a managing general agency (MGA) which seeks to acquire other MGAs and build a franchise in the insurance program business market.
Kimmel is president of the new firm and Kilkenny, who sold his interest in Arrowhead in 2006 after he had built it to over $1 billion of premium, serves as chief executive officer. The company is funded by Kilkenny, Kimmel and Endeavour Capital, a leading West Coast-based private equity group with more than $1 billion of committed equity capital under management.
Kilkenny said K2 will consider a variety of MGAs as possible acquisition opportunities, including large, existing entities with diverse books of business, as well as smaller MGAs that may specialize in programs that focus on single lines of business or customer segments. The company will seek potential opportunities in all lines of business and all geographical areas. Additionally, the company will be developing new programs with experienced underwriters in niche insurance segments.
Source: K2 Insurance Services.
Topics Insurance Wholesale
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