Pioneer Underwriters and K2 Insurance Services have announced the completion of a transaction that transferred Pioneer’s ongoing underwriting portfolio and its underwriting and support staff to K2. Terms of the transaction were not disclosed.
The transferred business includes underwriting units specialising in property catastrophe reinsurance, financial institutions, international property facultative and marine specialty. The combined units will underwrite approximately £150 million in 2020, all of which is supported by high-quality capacity providers and will form the basis of K2 International, the companies said.
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