K2 Insurance Services, LLC, formed in 2011 to acquire managing general agencies (MGAs) and specialty program administrators and underwriters to create a leading franchise in the insurance program market, has acquired Morris Plains, New Jersey-based High Point Underwriters.Concurrently with the acquisition, High Point, together with Midwestern Insurance Alliance, have partnered with QBE North America to administer a national workers' compensation and occupational accident insurance program. Louisville, Kentucky-based Midwestern Insurance Alliance, led by Marc Risen, is a national workers' compensation program administrator focused on the transportation industry.
The coverage will be provided through QBE North America's A.M. Best "A" rated insurance companies on both an admitted and non-admitted basis.
The combination of K2's workers' compensation specialist, Midwestern Insurance Alliance, and High Point establishes a diversified national insurance solution for both employee drivers and independent contractor owner operators.
"David King and Roman Atkielski have built High Point into a prominent occupational accident program administrator and will continue to lead the business day-to-day," commented K2 President Bob Kimmel.
"High Point and its team bring a wealth of valuable expertise in occupational accident insurance for independent contractors, and we are excited to partner with David and Roman in expanding their franchise nationally. We believe the combination of a specialized, successful occupational accident product and a focused trucking workers' compensation program with thirty years of expertise and distribution offers a compelling value proposition to the marketplace."
"At the same time, K2 will continue to seek other acquisition and growth opportunities around the country," Kimmel added.
"We are pleased to join forces with K2, High Point, and Midwestern Insurance Alliance. This partnership provides QBE with new opportunities to expand our business and bring our innovative workers' compensation solutions to the market," said Glenn Skrynecki, Interim Senior Vice President, Programs, QBE North America.
High Point will also continue to write occupational accident insurance on behalf of Lloyds of London.
About K2
K2 was formed by Kimmel and Pat Kilkenny, Chairman and CEO of K2, in partnership with investment firm Endeavour Capital. Additional information is available at www.k2ins.com.
About QBE
QBE North America is part of QBE Insurance Group Limited, one of the largest insurers and reinsurers worldwide. QBE NA reported Gross Written Premiums in 2015 of $4.6 billion. QBE Insurance Group's 2015 results and additional information can be found at www.qbena.com.