Law firms doing better than most branches of law

Insurance law firms within the top 50 firms saw revenues grow by an average of 7.8% and profits per equity partner (PEP) climbing 2.7%, Legal Week reports.

Of the five insurance firms in the top 50, four saw a climb in rank in 2009-10.

Kennedys entered the top 50 last year at 42 and rose in the 2009-10 financial year to 34 following a 31.2% increase in revenue to £88.3m. PEP increased by 8.6% to £380,000.

Clyde & Co had a turnover of £192m, up 3.8% from £185m last year. PEP increased 10% from £550,000, to £605,000 in 2009-10.

One firm down

Barlow Lyde & Gilbert saw turnover drop 6.3% from £87m in 2008-09 to £81.5m in 2009-10. PEP increased by around 3% to £300,000.

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