Diversified group Marsh & McLennan has locked in an 18% net income increase to $US1.18 billion ($1.15 billion) for the full year.

Off the back of $US11.92 billion ($11.5 billion) in revenues, up 3.5% on 2011, the group banked what President and CEO Dan Glaser describes as an “excellent” year, driven by growth across all business segments.

“For the third consecutive year, both Risk and Insurance Services and Consulting achieved double digit growth in adjusted operating income,” Mr Glaser said.

Net income grew across all business areas on an annual basis, with the exception of consulting group Oliver Wyman, where revenues were flat. For the 12 months to December 31, Marsh recorded net income of $US5.46 billion ($5.3 billion), Guy Carpenter $US1.08 billion ($1.05 billion) and Mercer $US3.92 billion ($3.8 billion).

In Marsh, the strongest revenue growth was recorded in the Asia-Pacific region at 7% on 2011 at $US656 million. All regional areas recorded revenue rises of at least 4% on an annual basis and 3% for the fourth quarter.