K2 Insurance Services, an independent specialty insurance program manager, announced that private equity firm Warburg Pincus has agreed to acquire the company from Lee Equity Partners.
The investment will support K2’s continued growth strategy, including M&A and de-novo incubation, and its commitment to offering best-in-class services to clients. Terms of the transaction were not disclosed.
K2 has a diversified portfolio of 24 specialized programs across four key segments: Specialty Commercial, Specialty Transportation, International, and Personal Lines.
K2 provides centralized services to managing general agents, including distribution and capacity relationships, technology, actuarial, claims, and additional back-office support.
“As a long-term investor in the insurance sector, we believe K2 has significant growth potential and are excited to partner with Bob and the K2 team to build upon the company’s history of success and expand their offerings in this dynamic and growing market.” – Jeff Stein, managing director, Warburg Pincus.
K2 is truly a differentiated platform, offering a full suite of services to a diversified portfolio of programs that are supported by deep carrier relationships. K2’s management team has extensive industry experience and a demonstrated track record of growing insurance businessesMichael Martin, managing director, head of Financial Services, Warburg Pincus
Warburg Pincus is an active investor in the insurance sector globally and has made investments in select companies such as Aeolus Re, Arch Capital, Cox Insurance Holdings, Fetch, Fortegra, Foundation Risk Partners, ICICI Lombard Insurance, Max Life, McGill & Partners, RenaissanceRe, SBI General Insurance, SCM Insurance, and Somers Re, amongst others.