With $60 million in equity capital supporting them, two veteran insurance-industry executives, Pat Kilkenny and Bob Kimmel, have formed K2 Insurance Services LLC, a managing general agency that seeks to acquire other MGAs.
Kilkenny, former chairman and CEO of Arrowhead General Insurance Services Inc., and Kimmel, former Guy Carpenter & Co. LLC executive vice president, aim to build a leading franchise in the program-business market.
Kimmel is serving as president of K2; Kilkenny, who sold his interest in Arrowhead in 2006 after he had built it to more than $1 billion of premium, serves as CEO.
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