First Actuarial reports 17% rise in revenue

The firm said its average growth over the past three years now stood at 17% - having seen growth of 18% in 2022/23, 16% in 2023/24 and 17% over the past year.

It said its growth was "consistently above the market average" and ran across all business areas.

First Actuarial managing partner David Joy said: "Three consecutive years of double-digit growth shows that we're clearly doing the right things for clients."

Joy said both he and the firm's management team were particularly proud of the firm's administration function – which he said now represented almost 40% of its overall business, consistently recording significant growth over the past decade.

Joy explained: "Administration is the engine room of First Actuarial. All our administrators provide a great service for clients and scheme members. Of course, every firm can claim to put clients first, but the proof is the number of referrals we receive, which is driving stellar growth."

The firm said a "client-first approach" was at the heart of First Actuarial's ethos – also pointing towards its internal happiness survey metrics, which are on an upward trajectory.

Joy said: "With so many new starters, we've made concerted efforts to invest in our teams across the firm and uphold our distinctive values. We have a good name in the industry for quality and reliability, and new clients notice our positive working culture."

As part of its recruitment efforts, First Actuarial said it had ramped up its graduate programme in a bid to handle higher volumes of work and win more business.

Joy concluded: "I see many new opportunities and another successful year ahead. Newer areas such as employee benefit services are flourishing, and we've made our first business acquisition this year. As we grow and our reputation spreads, more employers and pension schemes will want to use our services and people will want to work for First Actuarial."