D&O specialist MGA Rising Edge set for "imminent" launch

Rising Edge, a new managing general agent specialising in 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. He will be joined by D&O expert Yoel Brightman, who will serve as managing director. Gouraud was formerly global head of strategic distribution at Axa XL.

The London-based MGA noted that it aims to serve wholesale London Market and European brokers.

Upheaval
“Our company will provide D&O insurance at a time of unprecedented upheaval within the market,” Gouraud commented.

He described launching a D&O platform from scratch in this environment and harnessing new capital as “an audacious move”.  

“We are born out of a need to reinvent existing industry models,” Gouraud added.

“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.”

He continued: “Today, we announce our imminent launch as a result of an increasing number of inquiries we are now receiving. The market seems excited with what we will bring – and so are we.

“We are busy putting the finishing touches to our operating and underwriting model, and starting on-boarding an incredibly experienced team.”

Coverage
Rising Edge stated that it will offer the full spectrum of D&O coverage, offering primary and low attachment cover for a breadth of different companies, from those with US listed securities or international exposures to private businesses.

Brightman added: “We are excited to be bringing capacity to the London Market.

“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.”

He concluded: “We passionately believe that close engagement with clients and our legal partners at the outset leads to better outcomes on claims and can reduce the risk of litigation.” 

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