26 May 2021Insurance

D&O specialist MGA Rising Edge marks its launch with four hires

Rising Edge, a London-based directors’ and officers’ (D&O) managing general agent (MGA), has made four hires as it officially opens its doors for business.

Miles Murphy is named as finance director and chief operating officer. He has more than 25 years’ insurance industry experience and assumes responsibility for all the financial and operational aspects of the business.

Murphy joined from AIG Asia Pacific where he was head of operations and transformation services, but has spent some time working with Rising Edge during its launch phase to design and develop its end-to-end platform.

Owen Dacey becomes head of claims, having most recently served as claims manager and regional practice leader for management liability at AXA XL. Dacey has more than ten years of experience managing high value complex D&O claims globally, and has particular experience in US securities litigation. His appointment is effective September 1, 2021.

Eleanor Fisher and Jamie Banks join as underwriters. Fisher joins from Marsh London, where she was a vice president and US wholesale broker, working on financial lines, including D&O. Before Marsh she served as an underwriter in the management liability team at AXA XL. She will join up with the Rising Edge team in coming weeks.

Banks joins from Travelers where he served as associate underwriter in the management liability team. Before Travelers he worked as assistant underwriter in the management liability team at AXA XL. He takes up his post on June 1, 2021.

Vantage Risk, the Bermuda-based class four reinsurer, will provide the “A-”rated reinsurance capacity, while Accredited Insurance (Europe), a Randall & Quilter Group company, will provide the required insurance licenses to underwrite business.

Philippe Gouraud, Rising Edge’s chief executive officer, said the support from Vantage Risk and Accredited Insurance demonstrated the robust business it has developed. “It is important that from day one we have a client and broker focussed underwriting team, battle hardened talent to help our clients deal with complex D&O claims, and a top-class operational backbone to deliver best-in-class service to our brokers,” he said.

Yoel Brightman, Rising Edge’s managing director, said: “The appointment of Miles and Owen marks an important step in the launch of Rising Edge, bringing end-to-end credibility to our business offering. Their wealth of experience and knowledge will be invaluable to the team as we grow a business focussed on servicing the D&O insurance market to the highest level – for clients and for brokers.”

The new underwriters, he said, “both exude genuine enthusiasm in their work, diligence in their underwriting and have enormous potential.”

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