Marsh Risk and Insurance Services’ revenue fell to $US6.8 billion ($9.6 billion) last year from $US6.9 billion ($9.7 billion) in 2014.

Marsh’s revenue for the calendar year was flat at $US5.7 billion ($8 billion), while reinsurance broking stablemate Guy Carpenter recorded $US1.1 billion ($1.5 billion).

Revenue from the Asia-Pacific insurance business fell to $US636 million ($899 million) from $US683 million ($965 million). This is reflected in the operating income result for Marsh’s insurance business, which was flat at $US1.5 billion ($2.1 billion).

There was a slight improvement in the operating margin, to 22.4% from 21.8%.

Marsh & McLennan Companies CEO Dan Glaser says it was a successful year, with the adjusted operating margin expanding in both the insurance and consulting areas, despite the results being affected by stronger foreign currency exchanges.

“We believe we are well positioned to deliver underlying revenue growth, margin expansion and strong earnings-per-share growth [this year],” he said.