In February 2018 Lakehouse ceased writing ATE policies because the insurer on whose behalf it wrote policies, CBL Insurance Europe Limited (“CBL”), went into Administration.
To date, we are pleased to note that although CBL continues in run off, it continues to pay any claims as they occur. We have no reason to believe that situation will change.
We are delighted to have found replacement capacity and to be working with Axis Specialty Europe SE, part of the extensive and A+ rated Axis insurance group. This change will enable us to focus on the medium to large commercial litigation and the funders involved in this section of the market. Initially we will insure cases in the United Kingdom but hope to operate in other jurisdictions in the not too distant future.
Michael Lent is very grateful for the kindness, support and encouragement extended to him by participants in the litigation and funding market prior to putting Lakehouse back into operation and extends a large thank you to all concerned, not to mention the team at Marsh, (formerly JLT) Niall Duke and Richard Wynne as well as Julian Brown at Axis for making it happen.