Marsh McLennan says it’s made a good start to the year, with both its risk and insurance services and consulting divisions delivering stronger revenues and operating earnings in the first quarter.

Consolidated revenue rose 9% to $US5.5 billion ($7.7 billion) and operating income gained 6% to $US1.4 billion ($2 billion). Net income rose to $US1.1 billion ($1.5 billion) from $US983 million ($1.4 billion).

“Marsh McLennan started 2022 with an excellent first quarter,” President and CEO Dan Glaser said. “We are well-positioned for another solid year.”

Risk and insurance services revenue rose 10% to $US3.5 billion ($4.9 billion), including $US2.5 billion ($3.5 billion) from Marsh. Operating income increased 6% to $US1.1 billion ($1.5 billion), while on an adjusted basis it rose 12%.

Marsh underlying revenue in the US and Canada rose 10% and Asia Pacific revenues grew 17%, powering the international operations.

Guy Carpenter revenue was $US999 million ($1.4 billion), an underlying increase of 11%.

Marsh last month said it would pull out from Russia due to the invasion of Ukraine, with ownership of the Russian business to be transferred to local management who will operate independently.

Mr Glaser said on an earnings conference call last week that the company saw “a picture of greater risks and uncertainties” than at the start of the year in looking at current economic conditions and further ahead.

“That said, we continue to see an environment supportive of growth,” he said. “Based on our current outlook, we continue to expect mid-single-digit or better underlying revenue growth for the full year.”