K2 Group Holdings Limited (K2 International) has acquired the management liability underwriting business of Rising Edge, adding a dedicated management liability team and establishing a new division in the London market.
As part of the transaction, the acquired team will form a new division that will be rebranded as K2 Executive Risk Limited under the K2 International platform. The division will be led by Yoel Brightman, a D&O specialist with more than two decades of experience and a former founding member at Rising Edge. K2 said the deal includes the existing book of business built at Rising Edge and retains the current capacity arrangements.
K2 International positioned the acquisition as a strategic extension of its Financial Lines capabilities that complements its existing underwriting operations across financial institutions, professional liability and credit. The group describes itself as a specialty insurance and reinsurance underwriting platform operating at the heart of the London market, with underwriting divisions spanning commercial property, financial institutions, marine, political violence, terrorism and credit.
K2 International is owned by K2 Insurance Services, which says it owns and controls a portfolio of MGAs and related insurance services businesses that market, underwrite and service nearly $2 billion annually in niche commercial and personal insurance premiums. K2 Insurance Services is backed by Warburg Pincus. The announcement was released via Business Wire and placed London at the center of the combined platform’s next phase of growth in executive and management liability underwriting.
KEY QUOTES
“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.”
Richard Coello, CEO, K2 International
“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.”
Philippe Gouraud, CEO, Rising Edge
