Sale of Litica Limited to PIB Group
PIB Group Ltd (‘PIB’ or ‘the Group’), the specialist insurance intermediary group, has acquired market-leading litigation insurance provider Litica Limited. Managing General Agent (MGA) Litica specialises in a range of insurance-backed solutions for private and corporate clients involved in litigation or arbitration. Litica was founded in London in 2019 by co-founding directors Stephen Bolster and Steve Ruffle and has since expanded its operations to Australia, the United States and Germany. The company has a large panel of insurer backers and is a Lloyd’s coverholder. This access to significant insurance capacity enables them to underwrite a range of complex and high value litigation types.
We would like to extend our deepest gratitude to the team at BDO for all of their assistance, stretching back from way before our sale was even a going concern and all the way until post-completion. BDO’s assistance was vital in getting our house in order prior to going to the market. When considering offers BDO were key at every point, ensuring that we were fully appraised of the implications of each offer to allow us to make a fully informed decision. When in the highly complex due diligence phase, we felt strongly that the project management provided to us by BDO was essential in keeping the deal running smoothly. It was key to the success of the deal to have an experienced BDO team acting on our behalf and liaising constantly with the buyer. We could not recommend BDO any more highly
Stephen Bolster, Founder, Litica Limited
We were delighted to have advised the shareholders on this transaction. Litica has been an incredible success story and in a relativley short period of time has grown to be rightly recognised as the leading MGA in litigation insurance. This transaction reinforces our longstanding credentials in providing tailored M&A solutions to specialist businesses across the insurance markets.
Adam Whistance, Head of Insurance, M&A