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Philip Lomax of Litica confirms increased insurance capacity
Litica, the leading specialty litigation insurance provider, has recently announced the acquisition of further insurance capacity to support its continued growth and expansion.
The move strengthens Litica’s position in the global litigation and arbitration insurance market, furthering its ability to serve the needs of a growing international disputes sector.
With Litica's additional insurance capacity, it has the capability to provide up to around $40million of coverage on a per case basis (the largest in the ATE insurance market), with substantially more capacity available for portfolio transactions.
Litica’s new capacity comes from a range of A rated company and Lloyd’s markets, who have joined the ranks of other leading A rated insurers backing Litica.
The additional capacity will also allow Litica to expand into emerging contingent risk litigation markets and provide more customized insurance solutions for industry participants. The company's focus on specialty insurance lines means they are well-positioned to assist those facing unique and complex risks.
Philip Lomax, Managing Director Litica in the Asia Pacific, has said:
“We are delighted to have secured the backing of further A rated insurers and increased our insurance capabilities globally. The regulatory and litigation landscapes in Australia and other Asia Pacific jurisdictions such as Singapore continue to evolve. Increasing our insurance capacity allows us to offer best in class solutions to our clients in these and other jurisdictions.”
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