LCP announces group record income of £189.8m in the financial year 22/23. 

Aaron Punwani, LCP CEO, commented: “At our core, we are a firm that believes in the power of innovation and collaboration to make a positive impact in the world. 

“This year has seen many challenges thrown up across our industry, including the unprecedented market turmoil in the wake of the LDI crisis. I am proud of the way our people handled and navigated this challenge and the way they embrace and develop new opportunities. This is going to be especially important as we enter the new and rapidly evolving world of AI and as the urgency of action on climate change becomes more apparent.

“I am privileged to lead a firm of people that takes a long-term view and sees the future as something to embrace and shape rather than be afraid of. I am excited to see where our journey takes us as we progress with our ambitious plans.” 

Some highlights for the year include:   

• In April 2022, LCP acquired Delta EE. In its first year of operation, the joint business has had remarkable success, building on a shared mission and culture to build a thriving combined business, with a clear aim to be the leading global consultancy driving the energy transition.
• LCP’s health analytics team have reimagined the economic incentives of the health system, working to reduce healthcare inequality and improve patient outcomes.
• LCP’s de-risking team has led insurance-based transactions for £12bn of people’s pensions, securing these members’ retirement outcomes. 
• LCP has built a case to seek changes in the pensions regulatory environment to help the £1.5tn of DB pension funds to be used more effectively for good. Some of the firm’s work is now being consulted on by the government.  
• LCP’s ground-breaking AI reserving tool, InsurSight, has gone from strength to strength, analysing over £100bn of reserves to help insurers make critical decisions.  
• Clients continue to demonstrate high levels of satisfaction and loyalty. LCP received a satisfaction score of 8.6 and a remarkable NPS (Net Promoter Score) of +64.

The firm’s impact is reflected in its financial results – with revenue growth of 27.4% on last year, including acquired revenue, following on from 5% in 21/22.