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 respected 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,” said Mr. Gouraud. “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 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.
“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!”
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 US listed securities or international exposures to private businesses.
“We are excited to be bringing capacity to the London Market,” said Mr. 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.
“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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Background - About Rising Edge
Rising Edge is a London-based MGA that specialises in directors’ and officers’ (D&O) insurance aimed at serving wholesale London Market and European brokers.
Philippe Gouraud is the Chief Executive Officer (CEO) of Rising Edge.
Based in London, he has held various senior underwriting and distribution roles at both AXA XL (formerly XL Catlin) and at AIG. His responsibilities included leading structured (re)insurance underwriting units, managing multinational and captive underwriting business, and executing global distribution strategies across client, broker and coverholder management.
In his 22 years in the London market, Philippe also founded an underwriting agency specialising in employment relations risks.
Prior to moving to London, Philippe has held various risk management roles at a leading oil and gas company, based both in the US and France.
Philippe brings his international underwriting, distribution, business management and team leadership skills to Rising Edge.
Yoel Brightman is Managing Director at Rising Edge. Yoel 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 successfully grown diverse portfolios of directors’ and officers’ (D&O) insurance in his past roles.
He brings a depth of experience in predictive risk management, such as portfolio analysis, segmentation and client engagement, to maximise portfolio performance.
Yoel is a well-respected market practitioner in the D&O market – he was one of the first to identify litigation and loss trends in 2017 and was a driving force behind the market corrections that followed.