Marsh & McLennan lifts insurance revenue
The Marsh & McLennan risk and insurance services division’s revenue grew 4% to $US1.92 billion ($2.41 billion) in the second quarter.
Reinsurance broker Guy Carpenter, which is part of the division, increased revenue by 3% to $US293 million ($367.68 million).
The professional services group’s overall revenue for the quarter increased to $US3.5 billion ($4.4 billion) from $US3.38 billion ($4.25 billion) in the corresponding period last year.
Net income increased to $US501 million ($629.4 million) from $US472 million ($592.9 million).
“We generated solid underlying revenue growth,” President and CEO Dan Glaser said.
“With a strong first half, we believe the company is well positioned to deliver underlying revenue growth, margin expansion… and strong earnings per share growth this year.”
The company increased its half-year net income to $US1.07 billion ($1.34 billion) from $US953 million ($1.2 billion).
Revenue from the Asia-Pacific region fell 8% to $US168 million ($211 million) during the second quarter and declined 3% to $US320 million ($402 million) at the half-year mark.