US-based K2 Insurance Services subsidiary Aegis General Insurance Agency (Aegis General) has entered into a strategic partnership with Homesite Underwriting Managers.
Aegis General is a unique specialty programme (USP) administrator, which manages property insurance products, such as manufactured home and specialty dwelling products.
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These products are distributed across the US via multiple channels and companies..
Homesite Underwriting Managers is the programme business unit for Homesite Insurance Group.
K2 president and CEO Bob Kimmel said: “Homesite’s record of success and innovative focus within the residential property market will allow Aegis General to continue our growth trajectory and industry-leading profitability within the manufactured home and affordable housing insurance sectors.”
American Family Insurance group affiliate Homesite is a direct insurance company. It offers insurance coverage for home, renters, condo, small business, term life, flood and auto in nearly 50 US states.
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By GlobalDataHomesite Underwriting Managers president and CEO Grace Meek said: “Homesite Underwriting Managers was established to maximize unique and sustainable opportunities within the program space. Aegis General’s Affordable Housing program fits perfectly, with unique specialty expertise and full turn-key insurance program capabilities.”
Aegis and Homesite claimed that they focus on technology and improving the way customers, partners, and employees purchase insurance.
Aegis General’s Affordable Housing unit senior vice president Jeremy Gluck said: “Homesite is one of the fastest growing insurance companies in the industry. Its customer-driven focus on technology and enhancing the insurance-buying experience is perfectly aligned with our approach to this under-served market segment.”
Aegis General is a subsidiary of K2 Insurance Services, which has specialty programme administrators and MGAs that underwrite and distribute property/casualty insurance products for a group of balance sheet partners.
Currently, K2’s subsidiary companies write over $800m of specialty insurance premiums in total.
