K2 OPENS BRUSSELS OFFICE

Specialty re/insurer K2 International has opened an office in Brussels, initially to deal with the loss of passporting rights that will follow the end of the Brexit transition period. The office will be led by Michael Butcher, head underwriter for K2 International Europe. The new operation in Brussels will “further strengthen K2’s existing international business” and initially focus on maintaining access to EU business after the potential loss of passporting rights at the end of this year. Earlier this year, California-based K2 completed its acquisition of London-based Pioneer Underwriters – its first deal outside the US. The company signalled at the time Pioneer would form the cornerstone for the future growth of its international platform.