In conjunction with this acquisition, Alteris President Paul Fuller, and 20 of his colleagues will join K2 via its public entity facility, Allied Public Risk, LLC. Fuller will lead the agency as its chief executive officer. “The integration of our water, fire, and JPA portfolios with Allied Public Risk’s pooling, excess casualty, retention, and primary products provide a single source and compelling public entity solution for our brokers and clients. There will be no change in our water, fire, and JPA issuing carriers or servicing teams,” said Paul Fuller.
“This change will simplify Argo Group’s operations for both clients and employees alike,” said Andy Borst, President of U.S. Specialty Programs at Argo Group U.S. “Trident Public Risk Solutions will continue to serve as our single, full-service public entity provider offering a broad platform of first-dollar, retained risk and pooling solutions as well as risk control products and services to brokers and clients throughout the U.S. The transaction also frees-up resources within Alteris to focus on growing our other specialty lines programs as well as adding new programs.”
For more information see www.alliedpublicrisk.com; www.argolimited.com/trident/ and www.argolimited.com/alteris/.
San Diego, Calif.-based K2 Insurance Services, LLC was formed by industry executives Pat Kilkenny and Bob Kimmel in partnership with investment firm Endeavour Capital to acquire managing general agencies (MGAs) and specialty program administrators and underwriters to create a leading franchise in the insurance program marketplace. Kilkenny formerly ran and owned Arrowhead General Insurance, a general agency with more than $1 billion in written premiums. Kimmel served as executive vice president and MGA practice leader at Guy Carpenter, the insurance intermediary that is a division of Marsh & McLennan. Additional information is available at www.k2ins.com
Alteris Inc. and Alteris Insurance Services, Inc., members of Argo Group International Holdings, Ltd. (NasdaqGS: AGII), operates a full-service managing general agency providing a broad spectrum of products and services to brokers and clients throughout the United States. With headquarters in San Francisco and offices in San Antonio and Seattle, our capabilities include program modeling, underwriting administration and capital management. Information on Alteris is available at http://www.argolimited.com/alteris/.