Exclusive: K2 selling Mason-led Aegis Pro Risk portfolio to McGowan

By James Thaler

July 14 - (The Insurer) - K2 Insurance Services is selling its Gene Mason-led Aegis Pro Risk portfolio, a book of business originally launched in late 2020 offering $5 million in primary and excess capacity, to The McGowan Companies, wholesale and program manager sources confirmed.

Before joining K2, Mason previously served as a senior professional liability underwriting executive at AmTrust, Endurance and WR Berkley. Sources told Program Manager that the program had scaled to just north of $20 million in premium.

Aegis Pro Risk originally focused on writing primary lawyers errors and omissions coverage, before expanding into offering coverage for insurance services professionals, real estate professionals and miscellaneous professional risk with a capacity with Sentry a year ago.

K2 offers professional liability coverage across numerous other parts of its platform and has been active recently launching a number of other programs, including in cyber and inland marine.

McGowan also has a number of existing professional offerings, including through its McGowan Financial Lines division.

K2 and McGowan did not immediately respond to a request for comment.