Public safety insurance agency acquired by program manager
Posted On: Mar. 27, 2017 1:42 PM CST
K2 Insurance Services L.L.C. said Monday that it has acquired Alpharetta, Georgia-based Star & Shield Insurance, an agency that provides insurance products to members of the public safety community and their families.
Terms of the deal were not disclosed.
Star & Shield has about 12 employees, who will be kept on, K2 President and CEO Bob Kimmel said in a statement.
“This is our first foray into retail,” Mr. Kimmel said. “The Alpharetta operation gives us a really good call center.”
Allen Durham, Star & Shield’s president and CEO, has over 20 years of experience in the insurance and reinsurance industry, K2 said, the bulk of it in the private safety sector.
"K2 brings a significant amount of expertise and product availability to Star & Shield,” Mr. Durham said in the statement. “The alignment with K2 provides additional catalyst as we expand the Star & Shield product offering and grow Star & Shield to a national presence, further advancing our mission of serving those who serve and protect us."
San Diego-based K2 said in the statement that it has assembled a group of specialty insurers and managing general agents across the country.
Mr. Kimmel said K2, which has roughly 250 employees, will report about $425 million in gross written premiums in 2017.