K2 International launches new credit division

K2 International, a specialty insurance and re/insurance underwriting platform based in London, has launched K2 Credit, a new division specialising in non-payment insurance for businesses in the non-bank sector.

Founded by industry veterans Benedict Gedye and Josh Madeiros, K2 Credit will provide comprehensive coverage for single risks and multi-buyer portfolios, including excess of loss (XOL), with capacity exceeding $20 million for any one obligor risk and a maximum aggregate limit of over $100 million across portfolios.

Richard Coello, CEO of K2 International, said: “K2 Credit represents an exciting new chapter for K2 International as we expand our offerings to meet the growing demand for sophisticated Credit insurance solutions.

“I’ve been particularly excited to see the development of this offering, as it focuses on the same underserved client base as the one K2 Financial was formed to support – the non-bank investment sector. In turn, I look forward with great anticipation to seeing how the plan progresses, under Ben and Josh’s expert stewardship.”

K2 Credit is backed by Lloyd’s licensing (AA- rated) and led by QBE, with additional backing from Lloyd’s of London syndicates.

The division will specialise in sector-agnostic, trade-related, short to medium-term business.

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