US broker expands contingent and litigation insurance business into UK and Europe

US insurance broker CAC has expanded its contingent risk practice into the UK and Europe, which will be headquartered in London.

CAC’s contingent risk team focuses on contingent and litigation insurance, helping companies manage, transfer and protect against litigation related exposures.

The firm said that it is expanding because of England and Wales ”being one of the most developed markets in Europe for litigation insurance”.

According to industry reports, current estimates suggest the UK litigation funding market deploys approximately £400m to £650m in gross written premiums annually (GWP).

Andrew Mutter, EVP and head of contingent risk insurance at CAC, said: “Our clients’ investments and exposures are global in scope and nature.

”CAC’s expansion into Europe cements our position as a global one-stop-shop for advising clients and executing on the full array of contingent solutions, including after the event insurance, capital protection insurance, law firm insurance backed financing solutions, secondary market trade coverage and adverse judgement insurance.”

New leader

The new UK and Europe practice will be led by Nick Moore.

He has more than 15 years of experience across litigation, arbitration, legal asset investments and contingent risk management.

He qualified as a solicitor with CMS Cameron McKenna in London, specialising in insurance and reinsurance disputes and broader commercial litigation.

He later held senior investment roles in litigation finance, including at Therium Capital Management, where he originated, structured and managed high value litigation and arbitration investments across sectors and jurisdictions.

Moore said: “I am joining CAC at a pivotal strategic growth moment.

”The UK’s sophisticated legal and financial markets make it the natural base for the firm’s expansion. We have a significant opportunity to establish a new benchmark in the UK, broadening access to specialist insurance capital and bringing additional product innovation, technical expertise and regulatory understanding to support established market participants and first time users of litigation insurance alike.”