Brit Insurance Limited, the insurance company subsidiary of Brit Insurance Holdings, has announced it is to underwrite all future 'before the event' legal expenses insurance distributed and administered by legal expenses provider Capita Assistance.
Capita said the agreement has secured its future underwriting capacity.
Brit's chief executive, Dane Douetil, said the deal was great news for both parties. He added: "Legal expenses is an area that can be developed by employing creative structured solutions. We have therefore taken the risk structuring technology that we developed for other industries and re-engineered it for this fast growing market.
"Our new Structured Legal Expenses division will run alongside our existing specialties of Financial Risks and Catastrophe Reinsurance."
Capita Assistance's business director, Helen Withers, commented: "We are pleased to have secured innovative structured underwriting capacity from Brit.
"Brit's creativity and financial strength are crucial elements of a partnership that will support the comprehensive range of legal expenses insurance that we offer to our major clients in the UK market, including many household name insurers."
The three year deal has immediate effect.
