Royal College of Nursing and NewLaw to launch ABS in April 2016

The Royal College of Nursing and NewLaw, the legal services arm of stockmarket-listed group Redde, are to launch an alternative business structure in April, it has been confirmed.

The news was revealed in a report issued by Redde setting out its interim results for the six months ended 31 December 2015.

NewLaw, which is based in Cardiff and was bought by Redde in 2014, already has an ABS arrangement in place with the British Medical Association.

In its statement, Redde, which is listed on the AIM market, said: “NewLaw has continued to build its range of services and pursue the additional opportunities available to it as the Group expands its reach into the marketplace. During the period to date NewLaw has been successful in pursuing applications to set up further ABS structures with additional Partners.”

It added: “NewLaw continues to pursue other opportunities for partnerships with insurers and other related brands via ABS structures.”

The interim results showed that turnover at Redde was up 35% to £165.2m.