Legal Business Blogs

Financial results 2013/14: Slight revenue and PEP increase at Holman

UK top-30 insurance firm Holman Fenwick Willan has posted a slight increase of 2% in global revenues with receipts growing to £143.8m in the last financial year ending 2013/14, only marginally up from £141m the previous year. Profits per equity partner (PEP) at the firm fared better, coming in at £554,000, an increase of 5% from £528,000 last year.

The firm’s highest earning equity member was paid £662,000, while the lowest earning member took home £331,000. Around 29 of the firm’s equity partners sit at the top of Holman Fenwick’s lockstep.

Some 78% of the firm’s gross revenues are generated from its disputes practice, followed by 15% from corporate and the remaining 7% from finance.

The firm’s London fee income alone generated £76.6m. Headcount at the firm remains more or less the same as last year with 420 total lawyers and 148 partners, the bulk of which are based in London, followed by Asia and Australia. Holman Fenwick made six partner promotions in April this year, five of which were promoted in London.

George Eddings, Holman Fenwick’s managing partner, said: ‘We were pleased to maintain our strong financial performance last year and continue to actively seek further growth and investment opportunities in our core sectors of focus.’

The firm was recently selected as one of the nine firms to provide niche legal services for BP’s specialist panel.