Admiral Group announces new ABS operations

Admiral Group is to head into ABS territory after announcing two new tie-ups with law firms Lyons Davidson and Cordner Lewis.

As of 1 May, Admiral Law and BDE Law will be open for business, having been granted ABS licences by the Solicitors Regulation Authority (SRA) last week.

The insurance giant has said in a statement to the London Stock Exchange that bringing the provision of legal services in-house will allow Admiral to administer a claim throughout the process and offer customers “a materially better quality of service”.

The insurer also stated that it was committed to helping curb the UK's “compensation culture” and that its new ABS businesses were not expected to make a material contribution to group profits in the “foreseeable future”.  

Mark Dugdale