Elite Insurance goes into runoff

Legal expenses insurer Elite Insurance said July 5 that it is ceasing to write new business. Elite offered legal expenses insurance, professional indemnity insurance and general insurance.

All policies issued up to date will remain in force and policyholders will not be affected, the company said in a statement. Furthermore, the company said that all claims should continue to be submitted to the Company's claims handling agents as stated on policy documents.

The company added that it is confident that it will be able to conduct an orderly runoff and is working with its advisors to ensure obligations to policyholders and other creditors will be satisfied.

Elite has offices in London, Lincolnshire, Warrington, Gibraltar, Paris, Milan and Madrid.

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