Rising Edge, a London-based managing general agent (MGA), writing directors’ and officers’ (D&O) insurance, is set to launch in the first half of 2021.
The new company will be led by Chief Executive Officer Philippe Gouraud, a well-known industry executive in the London insurance market. He will be joined by D&O expert Yoel Brightman, who will serve as managing director.
“Our company will provide D&O insurance at a time of unprecedented upheaval within the market. Launching a D&O platform from scratch in this environment and harnessing new capital is an audacious move,” said Gouraud.
Rising Edge will offer the full spectrum of D&O coverage – offering primary and low attachment cover for a breadth of different companies, from those with U.S. listed securities or international exposures to private businesses.
“We are born out of a need to reinvent existing industry models,” Gouraud continued. “Inspired by the impact of technology, Rising Edge has developed a new way to offer brokers and clients insurance that gives them more than just the risk transfer mechanism itself,” added Gouraud. who previously was global head of Strategic Distribution at AXA XL (between April 2016 and December 2020), according to his LinkedIn profile. He also had leadership roles at XL Catlin and American International Group.
“We are busy putting the finishing touches to our operating and underwriting model, and starting on-boarding an incredibly experienced team. Watch this space!” he said.
“We are excited to be bringing capacity to the London market,” said Brightman. “This, coupled with our expertise, provides Rising Edge with a great opportunity to provide leadership in the D&O market, and to engage with companies and their directors on the multitude of risks they face today.”
Brightman said close engagement with clients and legal partners at the outset “leads to better outcomes on claims and can reduce the risk of litigation.”
Source: Rising Edge
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