Rising Edge expands into transactional liability with acquisition

London-based D&O underwriting agency Rising Edge is to acquire Amaniki GmbH, an independent MGA based in Frankfurt specialising in transactional liability insurance. Rising Edge said the acquisition will enable it to launch a suite of transactional liability insurance products.

Amaniki has been operating since April 2019 as an independent MGA under the leadership of Niki Demirbilek, who is joining Rising Edge’s executive committee. Amaniki has an experienced team of transactional liability underwriters, with offices in Frankfurt and London.

Philippe Gouraud, CEO of Rising Edge, said: “I am delighted to welcome Niki and her experienced team to Rising Edge. What attracted us is how Niki has built a very strong identity and her underwriting track record over the years. Therefore, our Transactional Liability business will continue trading under the name of Amaniki, a well-respected brand in our London and European markets.”

Gouraud added: “This is the natural next step for Rising Edge’s strategy of growing a best-in-class specialty underwriting business. We started three years ago with a very successful commercial D&O business. We are ready for our next phase. We are aware, and welcome, the challenges of a W&I market, with uncertainties related to pricing, historical claims and underlying M&A activity. We trust our agility and the drive of our team to find its way to challenge the status quo.”

The transaction is subject to customary regulatory approvals and notifications, which are expected over the coming weeks.

Kelly Lyles, non-executive chair of Rising Edge, said: “The synergies and complementarity between the two teams, the two operating models and the two specialty insurance businesses will strengthen both sides. And the timing of it is remarkable, as the financial markets are gearing towards an increased level of M&A activity.”

The latest 2024 Deloitte M&A Trends Survey, which surveyed 1,500 corporate and private equity dealmakers, found that 79% of corporate leaders and 86% of private equity leaders expect an increase in deal volume over the next 12 months.

Demirbilek said: “Rising Edge brings a strong and resilient platform, from which we can continue building our transactional liability business across all our markets. We also have the backing of a very strong panel of (re)insurers, and are gearing ourselves up for what we anticipate will be a reinvigorated M&A market.”

In August, Rising Edge hired Tom Dickman as senior underwriter, D&O, to further strengthen its D&O underwriting team, as well as Lisa Didia in its finance team to reinforce its data and analytics capabilities.