The UK personal injury litigation market comprises three key segments:
i) Road traffic accidents (RTA);
ii) Non-RTA; and
iii) Medical negligence.
NAHL is well positioned to take advantage of the opportunities provided by the two segments of the market that are growing strongly: Non-RTA and medical negligence.
Approximately 70% of enquiries generated by NAHL for its Panel Law Firms in the financial year to 31 December 2013 were in these faster growing Non-RTA and medical negligence segments. The Group’s estimated share of total claims registered with the Compensation Recovery Unit in the UK personal injury litigation market for the 12 months to 31 March 2013 was 1.7% for RTA, 12% for Non-RTA, and 12.7% for medical negligence.
Our four key platforms for growth are market share development, profit enhancement, product and brand extension and process outsourcing. Together these strategic opportunities offer excellent growth prospects.
Further Growth Opportunities
As the market consolidates there are likely to be opportunities to enhance earnings through targeted acquisitions. The Group has core skills in selling marketing services, and in particular pooled marketing services to professional businesses. There is, therefore, the opportunity to expand this core competence by offering such services to other sectors.