Insurance services holding company, K2 Insurance services, is expanding its financial lines capabilities with the acquisition of the Management Liability Underwriting business of specialty insurer Rising Edge.
The acquired team will be integrated into K2 Group Holdings Limited (K2 International) and operate as a newly rebranded division, K2 Executive Risk Limited.
Yoel Brightman, a D&O market specialist with over two decades of industry experience and former founding member at Rising Edge, will lead this new division.
According to the announcement, the transaction includes the book of business built at Rising Edge and preserves existing capacity arrangements.
Commenting on the acquisition, Richard Coello, CEO of K2 International, said: “We are thrilled to undertake this transaction and are delighted to have Yoel and his team on board.
“It not only brings us a high-performing book of business in its own right but is highly complementary to our existing Financial Institutions, Professional Liability and Credit offerings. We look forward to supporting the team’s continued success.”
Philippe Gouraud, CEO of Rising Edge said: “We are pleased to have built a successful business that meets K2’s high standards. K2 is the perfect home for Yoel and his team to take the business forward.”
