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Marsh increases net income

Marsh & McLennan has reported net income of $US802 million ($884.47 million) for the first half, up from $US676 million ($745.51 million).

Investment income increased to $US44 million ($48.52 million) from $US24 million ($26.47 million) in the corresponding period last year, and total revenue was up more than 2% to $US6.21 billion ($6.85 billion).

Revenue from the risk and insurance segment grew 3.9% to $US3.46 billion ($3.82 billion), with reinsurance broker subsidiary Guy Carpenter contributing $US660 million ($724.02 million) – up 4.4% – and Marsh $US2.79 billion ($3.06 billion) – up 4.1%.

Of Marsh’s revenue, $US331 million ($365.04 million) came from the Asia-Pacific region, up 2.5%.

“The company continued to deliver strong financial results in the second quarter,” President and CEO Dan Glaser said.

“Adjusted operating income grew 13%, reflecting excellent margin expansion in both the risk and insurance services and consulting segments. In the quarter, Marsh produced underlying revenue growth across all major geographies.

“Guy Carpenter generated impressive underlying revenue growth, driven by its US and international operations.”