DWF and Ricksons are set to merge in a move that will create one of the UK's largest regional insurance practices. Currently in discussions, the proposed merger is set to take effect from 1 January 2007.
DWF's insurance department currently comprises over 200 people in Manchester and Liverpool. The merger with Ricksons will bring that number to 350 and create an insurance practice with a fee income of £23m and offices in four cities including Leeds and Preston.
The combined firm, which will be known as DWF, will have total fee income of £51m and around 800 people.
Paul Berry, head of Insurance at DWF, said: “Both firms have ambitions to become leading regional and national players in both the insurance and commercial markets. However while our fee incomes have been increasing at record levels, we recognise that in the current market - with consolidation in both the legal and insurance sectors - organic growth alone will not be sufficient to realise our aims.”
Ricksons managing partner Anthony Hughes commented: “Both firms have strong insurance practices and an excellent reputation with clients. There is a perfect synergy between us. Together we can build a much stronger business and enjoy an increased profile in the marketplace. Meanwhile clients will benefit from a greater depth and breadth of expertise while maintaining the personal relationships they have developed over the years.”
