K2 Financial secures new capacity from Chaucer

PublishedNov 05, 2020

London, 5 November 2020, K2 International (K2), the specialty insurance and reinsurance underwriting platform, is pleased to announce it has secured additional capacity support from Chaucer, the leading specialty (re)insurance group. The agreement, which is effective from 1 November 2020, will allow K2 Financial to provide significant capacity to its specialist investment management client base across the world.

Richard Coello, Managing Director, K2 Financial commented: “I’m proud that Chaucer has given K2 Financial this vote of confidence in our business and growth plans. Investment managers can rely on the risk management, insurance cover and thought-leadership K2 Financial offers, together with the highest quality capacity. As we increasingly see hardening market conditions, clients can be confident that we are building a partnership with them and our carriers, for the long-term.”

Paul Restarick, Casualty & Political Risk Manager at Chaucer commented: “We aim to provide clients with creative underwriting products and a first-class service, and our partnership with K2 Financial will deliver this. We are confident in the quality of their underwriting process and their commitment to the market and are pleased to be able to support them.”

About K2 International

K2 International is a specialty insurance and reinsurance underwriting platform, based at the heart of the London market. It is owned by K2 Insurance Services, a leading underwriting and distribution franchise in the US program insurance market. GWP in 2020 is expected to be $200m, across its business sectors of property catastrophe, financial institutions and commercial property.

About Chaucer

We are a leading specialty (re)insurance group providing clients with proven smart risk solutions for underwriting and claims. Our enterprising and trusted experts offer market leading cross class capabilities, empowered decision-making and a tailored approach.

With our headquarters in London, and our international hubs for Europe, MENA, Latin America and Asia, we protect clients in over 200 countries and territories worldwide. We offer clients the flexibility of both Lloyd’s and, through Chaucer Dublin, the company markets.

Our dedicated claims team completes our underwriting proposition, epitomising the capabilities required to handle even the most complex incident. We provide a first class claims service and most importantly, pay valid claims promptly. Gracechurch, the sector leading insurance research company and independent authority on London market performance, recognises our claims service as ‘outstanding’.

Our clients also benefit from the support of our parent company, China Re, a leading reinsurer in China, and one of the top 10 reinsurance companies in the world, which maintains excellent security ratings from A.M. Best and Standard & Poor’s. China Re is listed on the Hong Kong stock exchange (1508.HK).