Clyde and Co’s merger with UK and Ireland law firm BLM has gone live today (1 July), with the combined firms to be known as Clyde and Co going forward.
BLM has joined the firm’s global insurance practice following the move, and the newly expanded casualty practice will now relaunch and rebrand its online casualty innovation platform, Clyde and Co Newton, which contains over 800 legal professionals
The two firms jointly hold global revenues of over £700m per annum, a headcount of over 5,000, as well as offices in over 60 cities worldwide including 14 in the UK.
Clyde and Co Newton was launched in November last year and is said to be one of the first visible outputs from the merged firm, offering casualty clients technology-based solutions.
The platform reportedly has the ability to read 99% of all documents required for claims evaluation and can automatically produce valuations for 89% of employers’ liability and public liability claims.
Chris Murray, partner at Clyde and Co, said: “The merger is our response to insurers’ changing needs. By combining our businesses, we have created a new foundation for casualty claims built on scale, expertise and an innovative vision for the use of technology.
“Becoming the largest player in UK casualty gives us the largest data set in the sector and the ability to invest in the technology that fully unlocks its potential and Clyde and Co Newton is our banner for this technology and innovation.”
Matthew Harrington, partner at Clyde and Co and BLM’s former senior partner, added: “The merger has created the biggest casualty practice in the UK and will allow clients to benefit from our expert teams across the UK and Ireland, while benefitting from Clyde and Co’s unparalleled international presence too.
“Size matters as clients are increasingly looking for end-to-end support from trusted suppliers across business lines and geographies as they seek partners to support their growth and drive to improve margins in what is an ever-competitive sector. We are delighted that our clients will now be able to benefit from all the merged firms have to offer.”