K2 Group Holdings (K2 Worldwide), a part of K2 Insurance coverage Companies, has launched a brand new division, K2 Credit score.
The newly launched division will write non-payment insurance coverage for single threat and portfolios to companies within the non-bank section.
Based by Benedict Gedye and Josh Madeiros, K2 Credit score is backed by Lloyd’s licensing and spearheaded by QBE, with further assist from Lloyd’s of London syndicates.
K2 Credit score’s choices embrace options for single dangers and multi-buyer portfolios, that includes extra of loss (XOL) protection.
The division has a capability of greater than $20m for anyone obligor threat and might accommodate a most mixture restrict of greater than $100m throughout portfolios.
K2 Worldwide CEO Richard Coello mentioned: “K2 Credit score represents an thrilling new chapter for K2 Worldwide as we develop our choices to fulfill the rising demand for classy credit score insurance coverage options.
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“I’ve been significantly excited to see the event of this providing, because it focuses on the identical underserved consumer base because the one K2 Monetary was shaped to assist – the non-bank funding sector. In flip, I look ahead with nice anticipation to seeing how the plan progresses, below Ben and Josh’s professional stewardship.”
Specialising in trade-related, sector-agnostic insurance coverage for brief to medium-term enterprise, K2 Credit score goals to ship customised options that align with consumer necessities.
Final month, K2 Worldwide established its presence at Lloyd’s of London, with a field representing three of its divisions – K2 Rubicon Specialty, K2 Disaster Administration and K2 Property D&F.
K2 Worldwide, a specialty insurance coverage and reinsurance underwriting platform, operates within the London market.
Its portfolio of divisions spans industrial property, monetary establishments, marine, property disaster, political violence and terrorism.
