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Regional gains lift Marsh Q3 earnings

Marsh & McLennan says third-quarter earnings increased 17% to $US297 million ($335 million) after revenues gained across all insurance regions.

Revenues at the risk and insurance services division, which includes Marsh and Guy Carpenter, grew 7% to $US1.6 billion ($1.8 billion), while adjusted operating income gained 6% to $US242 million ($273 million).

The division’s underlying revenue grew 11% in Latin America, 5% in Asia-Pacific and 4% in both the US-Canada region and Europe, the Middle East and Africa.

Marsh revenue gained 8% to $US1.34 billion ($1.51 billion), including an Asia-Pacific contribution of $US175 million ($197 million), while Guy Carpenter revenue increased 2% to $US266 million ($300 million).

The consulting division, including Mercer and Oliver Wyman, reported a 7% revenue rise.

Marsh & McLennan President and CEO Dan Glaser says the company has delivered its 13th consecutive quarter of double-digit growth in adjusted earnings per share.

Net income for the nine months to September 30 grew 11% to $US1.17 billion ($1.32 billion), while revenues gained 6% to $US9.71 billion ($10.95 billion).