Kennedys tops £450m global revenue as Middle East conflict helps drive growth
Law firm Kennedys has reported its 12th consecutive year of growth, surpassing £450m for the first time, with the Middle East conflict partly driving revenue.
The City-headquartered firm, which specialises in advising the insurance sector, has generated £457m for the financial year 1 April 2025 to 31 March 2026, up from £428m in the previous financial year.
This follows Kennedys’ putting in place a strategic plan to expand globally over the last few years, with the firm seeing a 22.5 per cent revenue increase in North America, and 20.3 per cent in APAC, with both accounting for 43.7 per cent of global revenue.
However, the UK remains the firm’s largest driver, generating £215m in revenue and accounting for 47 per cent of global revenue.
Kennedys said that the firm being “heavily involved” in claims arising from the conflict in the Middle East across the marine, aviation, political violence, and trade credit sectors has contributed to its revenue growth this year.
“It [the conflict] has presented opportunities for us, but not without its challenges, of course,” John Bruce, Kennedy’s senior partner in London, told City PM.
“It’s been really great to see our partners in the Middle East region who have expertise in impacted areas, such as marine trade risk, all come together to give our clients a holistic overview – not just of, for example, how to get a ship out of the Gulf – but what the impact of that is, and being able to advise insurers on the big picture.”
Meg Catalano, Kennedys global managing partner, told City PM that “inevitably, any crisis becomes a focus for us because it becomes a focus for the insurance industry”, with the Middle East conflict being the most recent example of this.
“It’s an interesting area to be serving our clients in, and for better or worse sometimes that revenue growth comes out of these type of things,” Catalano added.
“From a business perspective, what we’re excited about is that the growth in revenue across the globe is letting us just continue growing as a firm, allowing us to tackle the difficult challenges ahead,” Catalano added. “For us, that revenue growth is more than just financial, it’s the ability to meet the challenges of the future and get the top talent to do so.”
Law firms have been expanding in the UAE, with the region ranking as a top destination for British lawyers to relocate, driven by vast government investment, including in Saudi Arabia, to move away from oil dependence and bolster the professional services sector.
Reports from 2025 and early 2026 from the Law Society and Solicitors Regulation Authority (SRA) estimated there to be between 500 and 700 English and Welsh qualified solicitors practising.
However, at the start of the recent conflict, many lawyers based in the Gulf were advised to work from home, as firms offered remote-working policies for staff in these regions in line with official guidance, with the UK Home Office advising British Nationals to “stay away from doors and windows”.
Baker Mackenzie, Clyde & Co, and Addleshaw Goddard are among those that urged staff in the Gulf to work from home.
Bruce said, however, that Kennedys has already had “various mechanisms” in place for a couple of years in regions such as Israel, allowing staff to evacuate the office in situations of conflict.
“If we need to evacuate the office, we’re ready to do that, and if people need to work from home – wherever home might be – of course, we’ll facilitate that,” Bruce said.