Marsh & McLennan says its fourth-quarter net income grew 16% to $US436 million ($568.1 million), aided by increased earnings from its core risk and insurance services business.

Overall net income last year was $US1.77 billion ($2.31 billion), up from $US1.6 billion ($2.08 billion) in 2015.

“Marsh & McLennan Companies had a strong finish to the year,” President and CEO Dan Glaser said. “For the year, our results were excellent.”

The risk and insurance services business, which includes Marsh and Guy Carpenter, improved its revenue by 4% to $US1.79 billion ($2.33 billion).

Guy Carpenter’s revenue gained 3% to $US222 million ($289.25 million).

The consulting arm, comprising Mercer and Oliver Wyman Group, registered a 2% decline in revenue to $US1.58 billion ($2.06 billion).

Marsh’s Asia-Pacific revenue fell 1% to $US153 million ($199.37 million).