K2 Insurance hires new president from Marsh MGU Victor

California-based specialty insurance services company K2 Insurance Services has hired its new president from Marsh and McLennan-owned managing general underwriter (MGU) Victor.

Mark Smith was most recently chief underwriting officer (CUO) of Victor's US operations, where he's said to have led the transformation of the organisation through technology implementation and product expansion with top tier insurance program companies.

Smith has almost 30 years of insurance experience in underwriting, actuarial and finance leadership roles at single state, national and international carriers.

Bob Kimmel, CEO of K2, commented: "K2 is first and foremost an underwriting company. Adding someone with a strong underwriting and actuarial background was a logical step as our premium volume quickly approaches $1B. Our carrier partners expect us to bring world-class analytics, systems, and underwriting discipline to the relationship. Mark has an exceptional background and balance between carrier and MGA experience to ensure profitable growth for years to come."

Smith added: "I am incredibly excited to join the K2 team that has built significant momentum in a segment of the industry that is delivering value-added capabilities and service to distributors, carriers and capital providers."