BGL acquires Minster Law to strengthen their partnership

INSURANCE business BGL Group is to acquire Yorkshire-based Minister Law, one of the largest road traffic accident personal injury practices in the UK.

Minister Law, which employs more than 800 people across offices in York and Wakefield, has seen its fee income rise to £107m from £7m in the last six years.

Minster Law has been working with BGL for the past seven years, with the law firm helping to manage the claims process for the group’s motor and bike insurance customers.

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BGL said that the acquisition will “significantly strengthen” the partnership between the two businesses and add “important legal services capability” to the insurance group.

Peterborough-headquartered BGL, which employs more than 2,400 people, yesterday announced regulatory approval by the Solicitors Regulation Authority of Minster Law as an alternative business structure. This means BGL can now acquire the law firm. The deal is due to take place at the end of June.

The alternative business structure was introduced as part of the 2007 Legal Services Act, which came into force in 2011.

This brought major changes to the industry such as allowing non-lawyers to own or take stakes in law firms, and permitting non-legal companies including supermarkets and banks to enter the sector.

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Peter Winslow, chief executive of the BGL Group, said: “The acquisition of a successful law firm is an important and positive move for BGL and one that is key to our ongoing success.

“We have been working very closely with Minster Law for some time and there are already clear synergies between the two companies. Like BGL, Minster Law has experienced strong growth in recent years and I’m looking forward to the company becoming part of the BGL Group and our future growth strategy.”

All Minster Law employees will be retained in the acquisition and Adrian Christmas, the current chairman of the company, will become non-executive chairman.

He also said he is considering non-executive positions in other businesses.

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Mr Christmas, who currently owns Minster Law Group, added: “The agreement will allow Minster Law to retain its independence, whilst also allowing our people access to all of the strategic and corporate advantages available within BGL, including the group’s financial strength.”

BGL Group’s total income for the 2011/12 financial year was £418m, with a pre-tax profit of £88m.

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