K2 Insurance Services (K2) has signed a multi-year deal with global catastrophe risk modelling and solutions provider Risk Management Solutions (RMS).
The deal will see RMS provide a range of risk models that cover risks such as earthquakes, hurricanes, floods, severe convective storms, and windstorms around the world.
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US-based K2 is an independent speciality insurance programme manager.
The alliance with Moody’s subsidiary RMS covers K2’s units, including K2 CAT, K2 Property D&F, and Vikco Insurance Services.
In addition to allowing for additional expansion within their respective business classes, the deal is expected to enable K2 to reliably underwrite natural catastrophe risks in the future.
K2 CAT head underwriter David Carson 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.
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By GlobalData“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.”
RMS managing director Jason Futers 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.”
Last December, private equity firm Warburg Pincus agreed to acquire K2 from Lee Equity Partners.
