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Broking arm aids Marsh McLennan Q2 growth

Marsh McLennan has reported higher second-quarter earnings, supported by its broking operations.

The risk and insurance services division booked a 15% rise in revenue to $US4.6 billion ($7.1 billion). Within the division, broker Marsh’s revenue gained 18% to $US3.8 billion ($5.8 billion) and reinsurance broker Guy Carpenter was up 7% to $US677 million ($1.04 billion).

For the six months to June, the division’s revenue improved 13% to $US9.3 billion ($14.2 billion). Revenue from Marsh grew 16% to $US7.3 billion ($11.2 billion) and Guy Carpenter was up 6% to $US1.8 billion ($2.7 billion).

Marsh and McLennan made overall revenue of $US7 billion ($10.7 billion) in the second quarter, up 12% on a year earlier. Net income rose to $US1.2 billion ($1.84 billion) from $US1.1 billion ($1.69 billion).

“We had another solid quarter, with 12% revenue growth reflecting continued momentum across our business and the contribution from acquisitions,” president and CEO John Doyle said.