Marsh & McLennan’s net profit dropped 2.7% to $US419 million ($572.83 million) in the second quarter, mainly due to the strong US dollar.

Consolidated revenue fell 2% to $US3.2 billion ($4.37 billion) in the three months.

The risk and insurance services business – parent to global broker Marsh and reinsurance specialist Guy Carpenter – reported 2% revenue growth to $US1.8 billion ($2.46 billion).

Operating income fell 4.6% to $US427 million ($583.79 million).

“Given the macro headwinds we are facing, I am pleased with our performance in the first half of the year,” President and CEO Dan Glaser said.

Underlying revenue was up 3%, reflecting growth of 2% in risk and insurance services and 4% in consulting.

“We’re on track to deliver underlying revenue growth, margin expansion and strong growth in earnings per share in the second half of the year,” Mr Glaser said.

Marsh’s insurance and reinsurance revenue gained 3% to $US1.5 billion ($2.05 billion) for the second quarter. International operations produced underlying revenue growth of 2%, with 4% in the US and Canada, and 5% in Latin America. Asia-Pacific revenue was flat.

Guy Carpenter’s second-quarter underlying revenue fell 2% to $US275 million ($376.09 million).