Marsh & McLennan says fourth quarter revenue from its risk and insurance services, made up of broker Marsh and reinsurance broker Guy Carpenter, increased 6% to $US2.53 billion ($3.31 billion) from a year earlier.

Overall revenue from the division for last year grew 8% to $US10.34 billion ($13.6 billion).

“2020 was a year like no other,” President and CEO Dan Glaser said. “I am proud of how our colleagues rose to the challenge, helping clients and one another and achieving impressive financial performance.

“We demonstrated our resilience as a company in 2020 and are well positioned for growth in 2021.”

Marsh recorded a 7% rise in revenue to $US2.36 billion ($3.1 billion) during the fourth quarter and Guy Carpenter also reported a similar increase, to $US162 million ($212 million).

For Marsh, revenue from the US/Canada market grew at the fastest pace of 11% to $US1.27 billion ($1.67 billion). The Asia Pacific region saw a 5% rise to $US269 million ($353 million) while Latin America was the only market to register a decline, with revenue down 10% to $US141 million ($185 million).