Admiral ponders creation of law firm
Admiral is considering setting up its own personal injury law firm in light of the developments to legal firms’ ownership under the alternative business structure changes.
According to the Daily Telegraph, the motor insurer could use the legal firm to replace the income lost by the government's plans to ban referral fees.
In its half year results Admiral revealed that 6% of its £160m profit came from referral fess.
The article noted that plans were still at an early stage and were only one of several being considered.
It added that Admiral had declined to comment.
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