Law firm Clyde & Co has announced a merger with UK-based BLM to bolster capabilities in the insurance space.
BLM is focused on insurance risk and commercial law with a specialisation in casualty, personal injury, healthcare and professional liability.
By July 2022, BLM will become part of Clyde & Co’s global insurance arm, which provides advisory and dispute resolution services to insurance firms and their clients.
Most BLM’s lawyers will join Clyde & Co’s casualty insurance practice, while others will be accommodated in professional liability, healthcare, and business advisory teams.
The combined entity will be known as Clyde & Co and is expected to generate revenue of more than £700m per annum, with a headcount of over 5,000.
Clyde & Co partner and chair of its global insurance practice group James Cooper said: “We have long sought to increase the scale of our UK casualty insurance practice through a merger so we can provide the full scope of services, technology, data analytics and innovation that clients in this dynamic part of the market require.
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“This combination will also boost our regional UK presence and strengthen our healthcare and professional liability offerings too.”
BLM senior partner Matthew Harrington said: “Combining our expertise will strengthen our market offering in the UK casualty, healthcare, and professional liability space, with true operational excellence and the agility to respond rapidly to the changing needs of the market.”
Upon completion, Clyde & Co will offer a wide range of casualty offerings across the UK in areas such as injury, motor claims, disease and damage and recovery among others.
The announcement comes after Clyde & Co launched a platform to speed up the claims process and cut costs.