PIB Group Expands Its MGA Division Through Acquisition of Litica
PIB Group, a prominent insurance intermediary, has bolstered its MGA (Managing General Agent) division through the acquisition of Litica, a specialist in litigation insurance. Established in 2019 by Stephen Bolster and Steve Ruffle, Litica offers a suite of insurance-backed solutions tailored for both private and corporate clients engaged in litigation or arbitration.
Originally founded in London, Litica has successfully extended its operations to Australia, the United States, and Germany. As a Lloyd’s coverholder with an extensive panel of insurer backers, Litica possesses access to substantial insurance capacity, which enables it to underwrite intricate and high-value litigation cases.
Charles Burgess, CEO of Underwriting and Schemes at PIB Group, commented, “The integration of Litica into PIB Group marks a significant milestone, propelling our MGA division into the next growth phase. Litica’s operations in Australia and the United States provide our MGA business with a robust foothold in these markets, offering numerous opportunities for the Group at large. We are eager to welcome Stephen, Steve, and their team – their expertise will be invaluable.”
Stephen Bolster, co-founding director at Litica, remarked, “Over the past six years, Litica has established itself as the UK’s foremost provider of specialist litigation insurance, and we are beginning to replicate that success on an international scale. Joining a dynamic and ambitious Group affords us the capabilities necessary for continued growth, while maintaining the professional and diligent services we are renowned for.”
Steve Ruffle, co-founding director at Litica, added, “Being part of an ambitious, bold, and fast-paced international Group ensures we are well-positioned to capitalize on the market opportunities that continue to emerge. We are excited to leverage PIB Group’s broad range of products, solutions, and expertise in insurance and risk management.”
