Transactional liability insurance products are designed to protect buyers and sellers from risks in a transaction. Credit: Suri_Studio/Shutterstock.

Rising Edge, a UK managing general agent (MGA), has announced the acquisition of Frankfurt-based underwriting agency AMANIKI for an undisclosed sum.  

This move allows Rising Edge to introduce a suite of transactional liability insurance products, designed to protect buyers and sellers from risks in a transaction such as breaches of warranties, tax liabilities and unforeseen liabilities. 

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AMANIKI specialises in transactional liabilities including W&I and tax liability insurance. 

It has been serving the European and London markets since April 2019.  

As part of the acquisition, which awaits regulatory approval, Rising Edge will incorporate a team of transactional liability underwriters along with offices in Frankfurt and London. 

Rising Edge has primarily focused on directors’ and officers’ liability insurance, catering to the London wholesale international market as well as regional UK and national European brokers.  

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AMANIKI managing director Niki Demirbilek will now become a member of Rising Edge’s executive committee.  

Rising Edge’s transactional liability business will operate under the AMANIKI brand. 

Rising Edge CEO Philippe Gouraud said: “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 [mergers and acquisitions] activity. We trust our agility and the drive of our team to find its way to challenge the status quo”. 

Demirbilek added: “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 in what we anticipate will be a reinvigorated M&A market.” 

The transactional liability insurance sector has been gaining attention, as evidenced by the International Underwriting Association forming a Transactional Liability Committee in June this year.  

Separately, Devonshire Underwriting, a UK-based MGA focused on transactional risk, expanded into Europe to take advantage of the burgeoning M&A environment in Europe and the increasing need for tax and contingent risk solutions.