Cardiff leads the way as Admiral Law unveiled
Insurer to have majority shareholding in joint venture ABSs
Admiral Group has announced a joint venture with Bristol-based Lyons Davidson, and the creation of a new ABS, Admiral Law, which opens on 1 May. Admiral is the UK's second biggest car insurer after Direct Line, and employs 1,800 staff in Wales and around the world.
Caroline Blake, head of Lyons Davidson's claimant motor insurance team in Cardiff, will be the COLP of Admiral Law.
Managing director Mark Savill made it clear in January this year that the law firm, which became an ABS last year, was not being acquired.
"There is a lot of change in this sector which is causing confusion for customers," Savill said. "By providing legal services under a brand that they recognise we aim to give them the confidence that we are best placed to deal with any claim needs that they have.
"While our input is in relation to the management of legal services and our technology, Admiral is helping develop the service with their knowledge and experience of the customer process."
The Admiral Group also confirmed in a statement to the London Stock Exchange details of another ABS, this time with Cordner Lewis, a niche personal injury practice based in Cardiff.
The firm, known as BDE Law, will trade under the names Diamond Law, Elephant Law and EUI Law. The COLP will be Julian Lewis, managing partner of Cordner Lewis. The new firm's ABS licence will also be effective from 1 May.
Admiral Group said bringing the provision of legal services in-house would allow it to "administer a claim throughout the process and offer customers a materially better quality of service.'
The statement said that, bearing in minds the "new and proposed reforms" to the personal injury claims process the ABS businesses were not expected to make a "material contribution to Admiral's profits in the foreseeable future".
A spokesman added that the insurer would have a majority shareholding in both new ABSs.
Earlier this month Ageas, the global life and general insurer, announced an ABS with personal injury firm NewLaw, based in Cardiff. Ageas Law opened on 1 April. NewLaw was itself one of the first ABSs.