Insurance giant Allianz is preparing to launch a litigation fund in the UK, paving the way for a surge of third-party funding in mainstream commercial litigation.

The insurer’s fund, Allianz ProzessFinanz, will launch in the UK on 1 November in High Holborn. The venture will be headed in London by Christian Stuerwald, a specialist in litigation funding who is transferring from Germany. Allianz will be looking to invest in commercial disputes.