Legal expenses insurer expands 80e division.
DAS UK has expanded its 80e division following the acquisition of after-the-event (ATE) legal expenses insurance business LawAssist.
LawAssist, based in West Sussex, controls premiums of over £7m. All its business is expected to be underwritten by DAS in the future.
The acquisition will operate as a separate trading division of DAS with its current management team set to remain with LawAssist to assist its business development within the DAS Group.
LawAssist chairman Brian Raincock and finance director David Cooper will remain with the company during the transition period.
Paul Asplin, chief executive of DAS, said the group already underwrote around £2.5m of LawAssist business but would look to add a minimum of £3m new business from the deal. “We recognised that ATE remains one of the best growth opportunities for DAS,” he said. “There is still a lot of scope and things we could not do in the past.”
Raincock added: “We believe that this deal represents the best opportunity for the future development of the LawAssist business and the service to our clients.”