Insurance services holding company K2 Insurance services is expanding its financial capabilities with the acquisition of the managed liability underwriting business of specialist insurer Rising Edge.
The acquired team will be integrated into K2 Group Holdings Limited (K2 International) and operate as a newly named division, K2 Executive Risk Limited.
Yoel Brightman, a D&O market expert with more than two decades of industry experience and a former founding member of Rising Edge, will lead the new unit.
According to the announcement, the transaction includes the established operations at Rising Edge and retains existing capacity arrangements.
Commenting on the acquisition, K2 International CEO Richard Coello said: “We are delighted to have entered into this transaction and delighted to have Yoel and his team on board.
“Not only does it bring us a high-performing business, it is highly complementary to our existing financial institutions, professional liability and credit products. We look forward to supporting the team’s continued success.”
Philippe Gouraud, CEO of Rising Edge, said: “We are delighted to have built a successful business that meets K2’s high standards. K2 is the perfect home for Yoel and his team to drive the business forward.”
