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When will Direct Line join the UK’s magic circle?

By Adrian Swinscoe, BD Coach, Rare Business

24 January 2014

Regulatory changes in the UK legal market have allowed supermarket chain The Co-operative, haulage company Eddie Stobart and insurance provider Direct Line to adopt alternative business structures (ABSs) and offer legal services in a range of areas. Could these firms challenge the magic circle in pure revenue terms one day? Possibly.

If we assume that entry into the magic circle is broadly measured by revenue, then one brand that could potentially be a challenger is Direct Line, which claims to have around eight million policyholders. Its stated intention is to provide customers with legal advice on personal injury and non-injury claims, including debt recovery, employment and contract matters. But, imagine if it were to add legal services like conveyancing to its portfolio: it could then be knocking on the doors of the magic circle.

Consider this scenario. If we assume, on ...

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