Specialty insurance coverage and reinsurance underwriting platform K2 Group has launched a brand new division targeted on credit score.
K2 Credit score was based by Benedict Gedye and Josh Madeiros. It’s going to write complete non-payment insurance coverage throughout single threat and portfolios for companies within the non-bank sector.
K2 Credit score is backed by Lloyd’s licensing (AA- rated) and led by QBE, with extra backing from Lloyd’s of London syndicates.
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It’s going to present options throughout single dangers and multi-buyer portfolios, together with extra of loss, with capability over $20m (£16.08m) for anyone obligor threat and a most mixture restrict of over $100m throughout portfolios. It specialises in sector-agnostic, trade-related, quick to medium-term enterprise.
“K2 Credit score represents an thrilling new chapter for K2 Worldwide as we increase our choices to satisfy the rising demand for classy credit score insurance coverage options,” stated Richard Coello, chief government of K2 Worldwide.
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“I’ve been significantly excited to see the event of this providing, because it focuses on the identical underserved shopper 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.”
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