Admiral Law makes £2.8m profit in first year

Admiral’s alternative business structure (ABS), Admiral Law, has reported a £2.8m operating profit in its first full-year results.

The ABS, set-up as a joint venture between Admiral and Lyons Davidson, was launched in May 2013.

Since then, it has handled claims for Admiral customers when they have suffered personal injury or other losses in a non-fault motor accident.

In a statement announcing the deal last year, Admiral said: “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.

“New and proposed reforms related to the handling of bodily injury claims mean that the ABS businesses are not expected to make a material contribution to Admiral’s profits in the foreseeable future. Admiral welcomes all actions taken to curb the compensation culture that currently exists within the UK motor insurance market.”