Kennedys Achieves Record Revenue Surge, Fueled by US Growth Strategy

 

Kennedys Achieves Record Revenue Surge, Fueled by US Growth Strategy

Kennedys, the UK-based insurance specialist, has recently inaugurated its 10th US office in Fort Lauderdale, marking a significant step in its ongoing stateside expansion. The strategic move involves the relocation of four insurance coverage lawyers from Kennedys' Latin America hub in Miami to Fort Lauderdale, bringing them closer to their clients, especially those within the yacht and marine sectors in the region. Leading this new team is Partner Kristen Perkins, an expert in intricate insurance disputes covering global and US-based carriers, encompassing primary and excess liability, D&O, employment, and property matters.

This expansion is part of Kennedys' broader growth trajectory, which commenced in 2017 through a merger with the 100-lawyer insurance firm Carroll McNulty and Kull. This merger provided Kennedys with five offices across the US. Since 2020, the firm has further bolstered its presence by recruiting partners from both national and local competitors, establishing offices in San Francisco, Houston, Wilmington (Delaware), and now Fort Lauderdale, in addition to its original US base in Miami.

Meg Catalano, Kennedys' US Managing Partner, highlighted the remarkable growth, stating, “In the last two years alone, we have increased our headcount by 13%, now boasting close to 200 attorneys serving clients throughout the US. This growth is a testament to the dedication of our clients and colleagues, whose hard work underpins our success.”

Joining Kristen Perkins in Fort Lauderdale are associates Nicole Castano and Jordan Lewis, bringing extensive experience in litigating insurance issues, including personal injury and medical malpractice claims, as well as employment and commercial litigation disputes in state and federal courts. Special counsel Samantha Satish completes the team, specializing in a variety of coverage issues arising under commercial, residential, and automobile insurance policies.

Kennedys' revenue surged by 11% in FY23, reaching a record high of £313 million. The firm attributes a significant portion of this success to the expansion of its US footprint, making North America and Bermuda the regions with the most substantial revenue increase, at 24%, compared to 6% in the UK, 9% in EMEA, and 12% in APAC.

Beyond the US, Kennedys has been actively expanding globally. In December, the firm acquired a 12-strong insurance team in Sydney from Clyde & Co. Additionally, it hired nine liability lawyers across the UK from defunct defendant insurance firm Plexus Law, including in Newcastle. However, the firm closed its Bangkok office in late 2022 following a review of its Thailand business, consolidating its Southeast Asia presence with offices in Hong Kong and Singapore. This continuous global expansion underscores Kennedys' commitment to providing top-notch legal services to its clients worldwide.