Two Decades of Legal Excellence: Kennedys' Spanish Odyssey and Bold Ambitions
Imagine a law firm that’s not just expanding, but evolving—strategically positioning itself as a powerhouse in one of Europe’s most dynamic legal markets. That’s exactly what Kennedys is doing in Spain, two decades after setting up shop in Madrid. This isn’t just a story of growth; it’s a masterclass in adaptability, client-centric innovation, and global vision. But here’s where it gets controversial: in a market crowded with international and domestic competitors, can Kennedys truly claim the throne as Spain’s leading insurance advisory brand? Let’s dive in.
Originally published in Iberian Lawyer magazine [https://iberianlawyer.com/mag/iberian-lawyer-n-150/], this deep dive reveals how Kennedys is doubling down on its Spanish operations. With a new headquarters at the prestigious Serrano 55 and a bold 30% growth target for 2025/26, the firm is sending a clear message: it’s here to stay—and dominate. As a litigation specialist with a global footprint (46 offices, 31 associate firms, over 360 partners, and nearly 3,000 professionals), Kennedys operates under a unique “one-firm” model, seamlessly handling multi-jurisdictional claims. In a candid conversation with Iberian Lawyer, Isidoro Ugena [https://www.kennedyslaw.com/en/our-people/people/madrid/isidoro-ugena/], managing partner of the Madrid office, sums up the strategy: “Kennedys goes wherever its clients need it.”
A Legacy Rooted in Insurance Expertise
Founded in London in 1889, Kennedys has been synonymous with litigation and legal advisory services for the insurance sector since day one. The firm’s internationalization mirrors the global nature of insurance itself, with a model built on sectoral focus and jurisdictional coordination. This foundation underpins its presence in Spain, where Madrid serves as a strategic regional hub.
The Madrid office opened in 2005 with a modest setup—a small space on Calle Montalbán, two partners, three lawyers, and three administrative staff—but with a clear vision: to serve international insurers and act as a bridge to Latin America. Fast forward two decades, and the firm is relocating to a sprawling 600-square-metre space at Serrano 55, nearly doubling its current premises. This move, slated for September 2025, isn’t just about size; it’s about fostering collaboration, with dedicated areas for training and client engagement. And this is the part most people miss: in 2020, the office became a fully owned subsidiary of the UK firm, achieving full corporate integration—a rare feat in the legal world.
Strategic Hires and Market Signals
Kennedys’ growth isn’t just about real estate. In 2024, the firm made waves with key lateral hires. A 13-strong team from Clyde & Co joined in May, including partners Ignacio Figuerol (financial lines), Ricardo Garrido (construction, energy, and environment), and Susana Martínez (cyber and reinsurance). Two months later, Jesús Iglesias, also from Clyde & Co, came on board as a partner in cyber and regulatory law. “That move was a clear signal to the market: Kennedys is intent on becoming the leading insurance advisory brand in Spain,” Ugena notes. Today, the Madrid team boasts 27 professionals, covering practice areas like regulatory, civil liability, energy, cyber, and marine—essentially, the full spectrum of insurance law.
Global Ambitions, Local Impact
Globally, Kennedys posted record revenues of €511 million in FY 2024/25, with the EMEA region growing by 13.6%. A new executive team, led by John Bruce, has set its sights on hitting $1 billion in revenues by 2030. In Spain, the 2024/25 financial year exceeded €5 million, with a 30% growth target for 2025/26. “The new team has integrated very well, and client trust is translating into results,” Ugena says. But what sets Kennedys apart? According to Ugena, it’s the firm’s “global network for coordinated, multi-jurisdictional service and its laser focus on insurance companies.” Unlike some competitors, Kennedys doesn’t litigate against insurers—it advises them, almost exclusively.
The Latin American Connection
Kennedys’ Latin American footprint is another piece of the puzzle. With offices in Mexico, Argentina, Chile, Peru, and Colombia, and a recent association in Brazil with RPZ Advogados, the firm is uniquely positioned to navigate the region. What’s fascinating is the bidirectional flow of business: while Spain initially served as a gateway to Latin America, there’s now a significant increase in Latin American companies and individuals investing in Spain. “Madrid serves as an entry and coordination platform,” Ugena explains. “Teams are integrated by matter, and the client receives a single invoice, backed by our internal compensation mechanisms.”
The Roadmap Ahead
So, what’s next? Kennedys is prioritizing selective lateral hires to expand its insurance capabilities, with transport as an immediate focus. The firm is also keeping a close eye on market dynamics, particularly in complex litigation, high-exposure claims, financial lines, and cyber. The guiding principle? Opportunity and strategic fit. “We’re bringing in talent where demand warrants a step-change in capacity, while preserving operational integration with our international network,” Ugena adds.
The Million-Dollar Question
As Kennedys celebrates two decades in Spain and charts its ambitious course, the question remains: Can it truly become the undisputed leader in insurance advisory? With its global network, strategic hires, and client-centric approach, the firm is certainly making a compelling case. But in a competitive market, only time will tell. What do you think? Is Kennedys poised to dominate, or will competitors like Clyde & Co and DAC Beachcroft give them a run for their money? Let’s debate in the comments.
For the full story, download the magazine here: [https://iberianlawyer.com/mag/iberian-lawyer-n-150/]. And for more insights, explore related content here: [https://www.kennedyslaw.com/en/search/?facet=6718,6770&locations=10332].
