Managing general agent Rising Edge Ltd has sold its management liability business, led by Yoel Brightman, to K2 International. The deal completed on 1st February and Rising Edge said the disposal of its D&O operation would enable it to focus on developing new lines of business.

Rising Edge will continue to handle existing policies and claims in the short-term, while Brightman and his team will manage all new business and renewals going forward as part of K2.

Philippe Gouraud, chief executive officer of Rising Edge, said: “This transaction reflects what Rising Edge is all about: transforming talented underwriters with an entrepreneurial and innovative mindset into successful and valuable businesses.”

He added: “While D&O has been a core part of our portfolio, this sale gives us significant financial resources to accelerate the development of new lines of business and market segments, with advanced technological solutions, where we can deliver the greatest value to our capacity providers, and to our brokers and their clients.”