Arbitration and litigation finance provider Burford Capital is launching its own insurance company to offer legal finance clients a new insurance product to address cost risk in commercial litigation and arbitration.
Burford has applied for a licence to establish Burford Worldwide Insurance as a wholly-owned Guernsey-incorporated insurer, and expects to receive approval from the Guernsey Financial Services Commission "imminently".
The firm said it would have significant capital available through Burford Capital’s balance sheet and extensive reinsurance arrangements negotiated with leading reinsurers.