New D&O MGA Rising Edge makes bold move to 'reinvent' industry models

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 start-up, led by former AXA XL executives, aims to reinvent existing industry models while bringing capacity to the London Market in an "audacious move" given the current market environment.

The new company will offer a 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.

Rising Edge will be led by chief executive officer Philippe Gouraud, who has over two decades of experience in the London market having held various senior underwriting and distribution roles at both AXA XL (formerly XL Catlin) and at AIG.

He will be joined by D&O expert Yoel Brightman as managing director. He is said to be one of the first to identify litigation and loss trends in 2017 and was a driving force behind the market corrections that followed.

Brightman was previously product manager of management liability at AXA XL where he was responsible for the development of the portfolio and underwriting strategy. Prior to joining AXA XL in 2011, he served as senior underwriter at Chubb Insurance Company of Europe. He has grown diverse portfolios of D&O insurance in his past roles.

Gouraud said: “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.

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

“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. Watch this space!”

Brightman commented: “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.

“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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