By David Bull

May 13 - (The Insurer) - Josh Jennings is leaving his position as head of inland marine and property programs at Aspen Insurance to join expansive MGA platform K2 Insurance Services.

Sources familiar with the situation said that Jennings is expected to launch a new inland marine offering at Warburg Pincus-backed K2.

They added that the Chicago-based underwriting executive is expected to be joined by several members of his team.

Jennings joined Aspen in 2017 as senior vice president for U.S. inland marine. Before that, he was managing director for construction and marine at The Hartford, covering the Midwest and North Central regions.

He was at The Hartford for more than five years after a spell at Nationwide Insurance as a commercial producer.

Inland marine products written by Aspen include fine art, builders' risk, contractors' equipment, miscellaneous floaters, solar risks, warehouse legal liability and motor truck cargo.

Aspen and K2 declined to comment.

News of Jennings’ exit from Aspen comes after the Bermudian carrier went public last week in a New York IPO.

Details of the planned program at K2 could not be confirmed at the time of publication.

The Bob Kimmel-led platform’s most recent launch was K2 Cyber. Led by former CyberPolicy, Beazley and Liberty Mutual underwriting executives Keith Moore, Meghan Hannes and Ray Lynch, the startup targets small to medium-sized business insureds.

The company’s property-focused MGA Vicko in January unveiled a new builders’ risk program offering limits of up to $20 million on Fortegra paper.

Earlier this year, the group’s London-based operation K2 International launched K2 Credit, specialising in non-payment insurance solutions for the non-bank sector.

K2 is also looking to raise capital to launch a reciprocal exchange to write admitted business in California, in the latest example of MGA platforms seeking opportunities to target the state’s dislocated property market.