Co-op Legal Services (CLS) has emerged as the fastest-growing segment within the Co-operative Group, with a remarkable 35% increase in revenue in the first half of 2024, according to reports published recently. This growth highlights the significant impact of legal services on the group’s overall profitability.
CLS, a groundbreaking alternative business structure since its licensing by the Solicitors Regulation Authority (SRA) in 2012, reported a revenue of £42 million for the first half of the year, up from £31 million the previous year. Profits also saw a substantial increase of 56%, rising from £9 million to £14 million. This upward trend occurred without any price hikes this year, with Co-op members benefiting from special deals on selected legal services.
Despite CLS constituting a small fraction of the Co-operative Group, which generated £5.6 billion in the same period, its financial contributions were pivotal, helping to boost the group’s underlying operating profit by £4 million to £47 million. CLS claims to be the UK’s largest regulated provider of wills and possesses the most extensive team of probate solicitors and specialists. Notably, estate planning, the largest area of practice for CLS, witnessed a 45% increase in case openings compared to the same period in 2023, while probate case openings grew by 8%, even amid a declining death rate, as confirmed by the Office for National Statistics.
A review of the business stated, “Accessible digital channels and the provision of personalised legal services at value-for-money prices have been the key drivers in attracting new clients and members.” Throughout 2024, CLS has significantly strengthened and expanded its operations through successful partnerships with organisations across various sectors, including financial services and charities. This strategy has facilitated wider reach and accessibility for its expert services. The firm has invested in automated production processes for probate matters, with further technological investments expected to enhance core operations and scalability. Additionally, CLS has initiated the recruitment of solicitor apprentices.
CLS is integrated into the group’s Life Services division, which also covers funeral and insurance operations. Managing Director Caoilionn Hurley attributed the company’s success to the “energy and passion of our colleagues” and their commitment to delivering exceptional legal services. Increased digitalisation, robust partnerships, and optimised customer experiences are central to the company’s growth strategy. Ms Hurley previously indicated aims to evolve into a £100 million operation by 2027, a goal that appears achievable ahead of schedule.
In terms of customer satisfaction, CLS maintains an impressive score of 83%, although slightly lower than the previous year, and holds an ‘excellent’ rating on Trustpilot.
The robust growth of Co-op Legal Services not only underscores its strategic importance within the Co-operative Group but also reflects its capacity to adapt and innovate in the legal sector. This momentum is supported by strategic partnerships, technological investments, and a dedicated workforce, solidifying its position as a leading provider of legal services in the UK.
