San Diego-based managing general agency K2 Insurance Services announced on Monday it has acquired a majority stake in Midwestern Insurance Alliance Inc., an MGA based in Louisville, Ky., that underwrites workers’ compensation coverage, with a focus on the transportation industry.K2, formed in 2011, said the purchase of Midwestern is its first acquisition as it seeks to build a national insurance program business franchise.MGAs sell insurance coverage, but differ from other agents and brokers in that they are authorized by insurers to actually underwrite and bind risks, typically in &ldqu...
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