K2 Insurance Services LLC (“K2”), a leading independent specialty insurance program manager, has signed a new multi-year deal with Moody’s RMS, the global catastrophe risk modeling and solutions company.
The new deal, which covers three of K2’s MGAs – K2 CAT, K2 Property D&F, and Vikco Insurance Services LLC – includes the adoption of various Moody’s RMS risk models covering perils such as earthquakes, hurricanes, floods, severe convective storms, and windstorms, across the globe. It will enable K2 to continue to confidently underwrite natural catastrophe risks as well as allow for further growth within their classes of business.
David Carson, Head Underwriter, K2 CAT, said: “It has been a successful few years for K2 Insurance Services, most recently with significant investment from Warburg Pincus to support K2’s continued growth strategy and our commitment to offering best-in-class services to our clients. Moody’s RMS has played an important role in our success story, providing a key tool in our rating methodology, ensuring we price and manage our exposures as accurately and efficiently as possible. We are excited to continue working closely with their reliable and capable team as we extend our long-term partnership even further.”
Jason Futers, Managing Director, Moody’s RMS said: “We are thrilled to continue working with K2 Insurance Services and their underwriters as they strive to provide thorough coverage for natural catastrophe perils across the world. We are also very proud to play a role in supporting the business’ continued expansion.”