29 June 2023Analysis

K2 signs deal with Moody’s RMS

Independent specialty insurance program manager K2 Insurance Services has signed a new multi-year deal with Moody’s RMS, the global catastrophe risk modelling and solutions company.

The new deal, which covers three of K2’s MGAs – K2 CAT, K2 Property D&F, and Vikco Insurance Services LLC – includes the adoption of various Moody’s RMS risk models covering perils such as earthquakes, hurricanes, floods, severe convective storms, and windstorms, across the globe.

According to the companies it will enable K2 to continue to confidently underwrite natural catastrophe risks as well as allow for further growth within their classes of business.

“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,” said David Carson, head underwriter, K2 CAT. “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. We are excited to continue working closely with their reliable and capable team as we extend our long-term partnership even further.”

Jason Futers, managing director, Moody’s RMS 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. We are also very proud to play a role in supporting the business’ continued expansion.”