K2 Insurance Services, LLC (K2) has announced the completion of the acquisition of the assets and operations of Mid-America Risk Managers, Inc. (MARM).
MARM, based in Omaha, Nebraska, is a farm and agricultural focused specialty general agency that distributes specialty insurance products through independent agents and brokers. MARM is one of the largest program managers of coverage for Center Pivot Irrigation Sprinklers in the United States. MARM underwrites insurance products on behalf of members of Great American Insurance Group, The Travelers Indemnity Company and Century Insurance Group.
For over 20 years, MARM has been a family-owned business providing property and casualty insurance products for the agricultural community. MARM leverages its product expertise and broad geographic spread to produce superior underwriting results in a historically volatile line of business. MARM will continue to distribute its Center Pivot and Farm Owners Package products, as well as other complementary product offerings from K2 partner companies, to its network of over 400 sub-producers. In addition, MARM will focus on partnering with carriers who seek to mitigate their exposure to the volatility these risks present. Paul Friskopp, Founder and President of MARM, will continue as President of MARM going forward. Kerry Besnia, formerly of Great American Insurance Group, has joined MARM to help facilitate future growth of this program. This acquisition complements other K2 target acquisitions in the agricultural industry.
Source: Company Press Release