By Rebecca Delaney

March 10 - (The Insurer) - Broker consolidator PIB Group has expanded its MGA division with the acquisition of specialist litigation insurance MGA Litica.

Lloyd's coverholder Litica specialises in a range of insurance-backed solutions for private and corporate clients involved in complex and high-value litigation or arbitration.

Founded in London in 2019 by Stephen Bolster and Steve Ruffle, Litica has since expanded its operations to Australia, Germany and the U.S, with a large panel of insurer backers.

Charles Burgess, CEO of underwriting and schemes at PIB Group, said the acquisition will enable PIB's MGA division to "enter the next phase of growth".

"Liticia’s operations in Australia and the U.S. provide our MGA business with a strong foothold in these markets, bringing a wealth of opportunity to the wider group," he said.

The announcement continues PIB's recent run of M&A activity to expand its operations globally. Last month it acquired Italian broker Elleti Broker SpA, and in January it entered the Portuguese market with the acquisition of Vitorinos Group.

As previously reported, the M&A activity comes against a backdrop of uncertainty for PIB as the consolidator and its private equity owners, Apax and Carlyle, continue to examine strategic options for the expansive group via an Evercore-led sale process which has already secured interest from Cinven and Hellman & Friedman.