PIB Group, a specialist insurance intermediary supported by Apax and The Carlyle Group, has made an important move by acquiring Litica, a Managing General Agent (MGA) focused on litigation insurance. This acquisition, announced on March 10, 2025, is a significant step for PIB as it aims to strengthen its presence in the growing litigation insurance market.
Litica was founded in London in 2019 by Stephen Bolster and Steve Ruffle. Since then, it has become a key player in the litigation insurance field, catering to individuals, businesses, and law firms. The company has expanded its operations to Australia, the United States, and Germany. As a Lloyd’s coverholder, Litica has the ability to underwrite complex legal disputes, which has helped it build a solid reputation in the industry.
The demand for litigation insurance has been increasing as more people and businesses seek protection against the financial risks associated with legal disputes. PIB Group’s acquisition of Litica allows it to enhance its capabilities in this area, particularly in specialist underwriting and risk management across various countries.
Charles Burgess, CEO of underwriting and schemes at PIB Group, highlighted the importance of this acquisition for the company’s wholesale division. He expressed excitement about Litica joining PIB, noting that it opens up new growth opportunities in key markets like Australia and the United States.
Litica is well-known for its After-the-Event (ATE) insurance and has provided significant insurance capacity for numerous legal and arbitration cases. The company has earned high ratings in the industry, thanks to its team of legally trained professionals.
Co-founder Stephen Bolster shared his enthusiasm for the partnership with PIB Group. He believes that joining forces with PIB will provide Litica with the resources needed to continue its growth and maintain its commitment to high-quality service for clients.
Steve Ruffle, another co-founder, echoed Bolster’s sentiments, emphasizing the promising growth potential within PIB Group. He noted that being part of such a dynamic and ambitious organization will help Litica capitalize on market opportunities.
Litica’s recent expansion into Australia in 2022 marked a significant milestone for the company, allowing it to offer locally backed litigation insurance solutions. It has quickly gained recognition in the sector, receiving accolades for its leadership and expertise.
The acquisition by PIB Group is expected to further support Litica’s international growth and strengthen PIB’s position in niche insurance markets. As litigation and arbitration cases become more common and costly, the need for tailored legal cost insurance is likely to continue rising.