Marsh and McLennan Companies (MMC) achieved a strong increase in net income in the first quarter of this year, despite soft conditions in some markets.

Net income for the period was $US248 million ($274 million), a significant improvement compared with the $US176 million ($195 million) recorded in the first quarter of last year.

MMC’s Risk and Insurance Services segment revenue rose to $US1.5 billion ($1.66 billion), up 9% from the corresponding period last year.

Among the divisions, Marsh’s revenue increased 8% to $US1.2 billion ($1.33 billion) quarter-on-quarter, and was unchanged on an underlying basis.

Guy Carpenter’s first-quarter revenue increased 12% to $US315 million ($349 million) from the reinsurance broker’s previous equivalent results.

MMC President and CEO Brian Duperreault says the company achieved strong operating income growth despite the difficult market.

“[Our] performance in the first quarter of 2010 reflects effective management of our businesses throughout the economic downturn,” he said.

“Results produced by our Risk and Insurance Services segment were strong, particularly in light of continued soft market conditions in the property and casualty insurance marketplace.”