Kennedys: A Spanish Success Story
In the world of international law, Kennedys has been a prominent player for over a century. With a rich history dating back to its founding in London in 1889, the firm has specialized in litigation and legal advisory services for the insurance sector, establishing a strong presence in Spain. Twenty years after opening its Madrid office, Kennedys is now strengthening its foothold in the country with new headquarters and ambitious growth plans.
A Strategic Expansion
Isidoro Ugena, managing partner of the Madrid office, explains the firm's strategy: "Kennedys goes wherever its clients need it." This commitment to adaptability is evident in their recent expansion. With a 30% growth target for 2025/26, Kennedys is moving to new headquarters at Serrano 55, nearly doubling the size of their current space. This move will foster collaboration and provide areas for training and client-facing activities, solidifying their position as a leading insurance advisory firm in Spain.
A Global Reach
Kennedys operates under a "one-firm" model, handling multi-jurisdictional claims with a global network of 46 offices and 31 associate firms. This model, combined with their sectoral focus and jurisdictional coordination, has been instrumental in their success. The Madrid office, opened in 2005, serves as a regional hub, bridging the gap between international insurers and Latin America, thanks to shared language and regulatory affinities.
A Strong Team
In 2024, Kennedys made strategic hires, bolstering their team with professionals from Clyde & Co. This move signaled their intent to become the leading insurance advisory brand in Spain. The team now comprises 27 professionals, including five partners, 18 lawyers, and four administrative staff, covering various practice areas such as regulatory, civil liability, energy, construction, financial lines, cyber, and marine.
Financial Success
Globally, Kennedys achieved record revenues of €511 million in FY 2024/25, with the EMEA region growing by 13.6%. The firm's executive team, led by John Bruce, aims to reach $1 billion in revenues by 2030. In Spain, the 2024/25 financial year exceeded €5 million, and the office is targeting approximately 30% growth in 2025/26.
Competitive Advantage
Kennedys competes with international insurance-focused firms and domestic insurance practices in Spain. Ugena highlights their global network and focus on insurance companies as key differentiators. They advise insurance companies rather than litigating against them, providing integrated teams, joint assignments, and unified billing across offices.
Latin American Expansion
Kennedys has a strong presence in Latin America, with offices in Mexico, Argentina, Chile, Peru, and Colombia. They recently finalized an association in Brazil with RPZ Advogados, further expanding their reach. This bidirectional flow of business, with growing investment in Spain from Latin American companies and individuals, highlights the importance of Madrid as an entry and coordination platform.
Looking Ahead
Kennedys' roadmap in Madrid emphasizes selective lateral hires to expand capabilities within the insurance perimeter. Ugena highlights transport as an immediate focus, with potential additional reinforcements based on market dynamics. The firm's guiding principle is opportunity and strategic fit, ensuring operational integration with the international network while meeting demand in complex litigation, high-exposure claims, financial lines, and cyber.
