DAC Beachcroft has signed up to a collaborative new insurance alliance, Legalign, along with three others: German firm BLD Bach Langheid Dallmayr, US firm Wilson Elser and Australian outfit Wotton + Kearney.
According to DAC, the model is designed to deliver legal services seamlessly across jurisdictions in three primary areas: insurance/reinsurance coverage, insurance/reinsurance defence and insurance regulatory and compliance. The alliance will comprise more than 2,000 lawyers across the four firms.
DAC managing partner David Pollitt (pictured) said it gives the firm an even bigger global footprint.
He added: ‘The synergies between our respective clients, our service capabilities and our cultures are genuinely noteworthy. That makes the opportunity to join forces an exciting one both for us and for our clients, many of which will feel the benefit of this comprehensive new global offering with almost immediate effect. We can’t wait to continue to build on what we have already achieved.’
DAC filed its LLP’s for 2015/16 last week, which showed turnover increased by 1.5% to £201.5m from £198.5m, while profit before tax increased 9.5% from £32.3m to £35.3m. Meanwhile, as the average number of employees increased from 2,027 to 2,093, average statutory profit before tax per member increased from £296,000 to £361,000.
Total net debt at year-end was reduced by 18% from £24.6m in 2015 to £20m in 2016 while growth in operating profit increased 10.2% from £33.2m to £36.6m.
In December DAC strengthened its presence in Latin America with insurance associations with Torres Carpio Portocarrero & Richter (TCPR) and BLP in Peru and Central America.
The associations are in addition to DAC’s existing presence in Latin America, where the firm has offices in Mexico, Colombia and Chile, as well as an alliance in Brazil and a hub in Miami. The arrangement will see all three firms work together to share best practice and meet mutual clients’ key business needs in Latin America.
kathryn.mccann@legalease.co.uk
