LONDON: Slater & Gordon will end its contract with UK-based insurance broker Swinton, a major client of the British professional services division recently acquired by the law firm.
Slater & Gordon (SGH), which purchased the division from the UK’s Quindell in a $1.23 billion deal, disclosed the ending of the claims management services agreement to the Australian Securities Exchange today.
The PSD has been providing first notification of loss services to Swinton, a leading UK insurance broker, and legal and complementary services to not-at-fault Swinton customers since December 2012,” the company said in a statement.
The impact of the end of the agreement is not expected to be material to financial year 2016 earnings, but Slater & Gordon has elected in the current circumstances to make this announcement nevertheless.”
Slater & Gordon shares fell marginally during early trade, down 1.4 per cent to $3.55.
