AM Praxis traces its beginnings to the firm of Baldvin Jónsson, founded in 1941. Jónsson was a highly regarded Supreme Court Attorney and a Landsbanki board member. In 1983 Reynir Karlsson joined the firm. In the year 1992 Jónsson and Karlsson merged with two successful lawyers Jónatan Sveinsson and Hróbjartur Jónatansson. The firm rapidly expanded under a new name, AM Praxis, and became a leading law firm in Iceland. Today the firm is run by Reynir Karlsson, Helga Reynisdottir and Halldor Th. Thorsteinsson.