Quindell Portfolio, the parent company of law firms Silverbeck Rymer and Pinto Potts, has sealed a five-year deal with RAC which will see the motoring giant become a shareholder in the burgeoning legal services business.

The agreement, which starts immediately, will see Quindell handle RAC’s car accident claims in areas such as personal injury, medical reporting, rehabilitation and car repairs, with the total value of the deal estimated at £500m a year.