Keoghs is said to be mulling over a possibility of going public. The report comes just days after it was revealed that the company had acquired Hill Dickinson’s insurance business group.
If the reports turn out to be true, Keoghs will be yet another insurance law firm that will be going to file for an IPO. Less than a week ago DWF LLP made headlines when it was cited as being poised for a listing on the London Stock Exchange in a £1 billion initial public offering (IPO).
News of the flotation followed a Thomson Reuters study which showed greater interest among the UK’s top 100 law firms – from last year’s 12% to now 20% of the polled finance directors – in a stock market listing.
Keoghs is likely traversing the same path, with City A.M. reporting on the potential IPO. It said the firm, which provides claims-related services to insurance companies, is understood to have interviewed advisers.
Neither the Bolton-headquartered business nor asset management company Investec – which, according to a source, has been tapped for the listing – has confirmed the report.
John Whittle, chief executive of the specialist supplier of defendant legal services, previously cited investment in people, technology, and infrastructure as key success drivers amid consolidation in the world of insurance law.