The transaction, which is subject to standard regulatory approvals, is expected to be finalised in the coming weeks.
Founded in April 2019, AMANIKI has operated as an independent MGA under the leadership of Niki Demirbilek. The acquisition brings AMANIKI’s experienced team of transactional liability underwriters into Rising Edge, with offices in both Frankfurt and London. Following the acquisition, Demirbilek will join Rising Edge’s Executive Committee.
Philippe Gouraud, CEO of Rising Edge, expressed his enthusiasm for the acquisition, saying, “I am delighted to welcome Niki and her team to Rising Edge. Niki has built a strong identity and a proven underwriting track record over the years. As such, our Transactional Liability business will continue to operate under the AMANIKI name, a well-respected brand in both the London and European markets.”
Gouraud further commented, “This acquisition is a natural progression in Rising Edge’s strategy to grow a best-in-class specialty underwriting business. We started three years ago with a successful Commercial D&O business, and we are now ready for our next phase. We are aware of the challenges in the W&I market, including uncertainties around pricing, historical claims, and M&A activity, but we trust our agility and the drive of our team to challenge the status quo.”
Niki Demirbilek, Managing Director of AMANIKI, added, “Rising Edge provides a strong and resilient platform from which we can continue to build our Transactional Liability business across all our markets. We also have the backing of a robust panel of (re)insurers and are preparing for what we expect will be a reinvigorated M&A market.”
Kelly Lyles, Non-Executive Chair of Rising Edge, noted, “The synergies and complementarities between the two teams, operating models, and specialty insurance businesses will strengthen both sides. The timing is particularly significant as financial markets are gearing up for increased M&A activity.”
Rising Edge’s insurance offerings will continue to be delivered through AM Best A- rated underwriting capacity, and through UK and European regulated insurance licenses.
