FTSE100 insurer Admiral has stepped into the legal sector with an ABS joint venture with Bristol-based claims specialist Lyons Davidson.
The insurance giant first considered the move after the Ministry of Justice (MoJ) announced that it would ban personal injury referral fees, which account for around 5.6 per cent of Admiral’s profits.
The joint venture with Lyons Davidson will form Admiral Law and will provide legal advice for Admiral customers.
Admiral has also entered into an ABS with Cardiff firm Cordner Lewis.