K2 Insurance Services makes first deal outside the US

K2 Insurance Services (K2) has announced today that it is entering into a deal with London-headquartered MGA Pioneer Underwriters. Notably, this transaction will be the specialty insurance services holding company’s first acquisition outside of the United States. According to a press release, the UK underwriting organization will be the linchpin for a new international platform from K2. Initially, this will include products in Pioneer’s property cat reinsurance, financial institutions, international property facultative, and marine specialty units, which together will write around £150 million in gross written premium in 2020.