Last checked at 31 Jan 2019 07:00
31 January 2019
NAHL Group PLC
("NAHL" or the "Group")
Wholly Owned Law Firm Licence Granted
NAHL (AIM: NAH), the leading UK marketing and services business focused on the UK consumer legal market, is pleased to announce that it has been granted a licence from the Solicitors Regulation Authority ("SRA") to launch its own law firm, to be named National Accident Law.
National Accident Law will provide customers with a bespoke, digitally enabled platform, managing the whole life cycle of a PI legal case. As noted in previous announcements, this is expected to deliver materially enhanced profits and cash flow in future years as the profile of cases being processed by National Accident Law matures. It is anticipated that National Accident Law will start trading in April 2019.
In conjunction with the granting by the SRA of this licence, the Group has restructured its operations in the PI division, creating two business units, one being National Accident Helpline, our marketing services business, with the second being Legal Services, incorporating National Accident Law and the Group's two joint venture ABS businesses which were established in 2017.
Separately, the Group has today published on its website a short corporate video which demonstrates the evolution of its PI division and the growth opportunity ahead. Please click on the following link to view the video: https://www.nahlgroupplc.co.uk/about-us/our-business
Russell Atkinson, NAHL Group CEO, commented:
"As a firm, everyone has worked extremely hard since the Government's reforms were first announced to ensure the Group is ready for the changes we are now seeing in the PI industry. I am delighted that we have now been given the formal approval to move ahead with the launch of National Accident Law, our first, wholly owned law firm which gives us a full economic interest in the success of a whole claim.
"We are encouraged by the performance of our ABS law firms and are excited about harnessing NAH's market leading brand, technological expertise and focus on the consumer experience to deliver enhanced value for all stakeholders."
For further information please call:
NAHL Group plc Russell Atkinson (CEO) James Saralis (CFO)
| via FTI Consulting Tel: +44 (0) 20 3727 1000 |
finnCap Ltd (NOMAD & Broker) Julian Blunt / James Thompson (Corporate Finance) Andrew Burdis (Corporate Broking)
| Tel: +44 (0) 20 7220 0500 |
FTI Consulting (Financial PR) Alex Beagley James Styles Laura Saraby
| Tel: +44 (0) 20 3727 1000 |
Notes to Editors
NAHL Group plc (AIM: NAH) is a leader in the Consumer Legal Services ("CLS") market. The Group provides services and products to individuals and businesses in the CLS market through its three divisions:
● Personal Injury provides outsourced marketing services to law firms through National Accident Helpline and claims processing services to individuals through Your Law and National Law Partners.
● Critical Care provides a range of specialist services in the catastrophic and serious injury market to both claimants and defendants through Bush and Company Rehabilitation.
● Residential Property provides marketing services to law firms and conveyancers as well as surveys to individuals through Fitzalan Partners. It also provides property searches through Searches UK.
More information is available at www.nahlgroupplc.co.uk