Market Lane Insurance Group will offer renewals for expiring policies issued by legal expense insurance specialist Arag, which quit the Australian market in July.

The group says it has a renewal rights deal with Arag for its entire legal expenses cover portfolio from September 12.

“This agreement allows us to offer all expiring Arag policyholders a new standalone LEI policy as they come due for renewal over the next 12 months,” group MD David Porteous said.

Market Lane’s ML Specialty brand will manage the renewals, underwritten via its delegated binding authority with Lloyd’s.

“This marks a significant milestone for Market Lane, and we look forward to expanding and strengthening our legal expenses offering within the specialty market,” the group said on LinkedIn.