Brought to you by:
ATC
ATC

Marsh has ‘outstanding’ first quarter with $6.6 billion sales

Facebook Twitter LinkedIn Google

Marsh McLennan has reported a 9% jump in first quarter revenue to $US5.1 billion ($6.61 billion).

President and CEO Dan Glaser says the start to 2021 positions the business well for the balance of the year.

“Marsh McLennan had an outstanding first quarter,” Mr Glaser said.

Net income was $US983 million ($1.27 billion), up from $US754 million ($977.24 million) a year earlier.

The adjusted operating margin increased 260 basis points to 29.6%.

Risk & Insurance Services revenue rose 11% to $US3.2 billion ($4.15 billion) while operating income increased 24% to $US1.1 billion ($1.43 billion)

Marsh's revenue in the first quarter was up 8% at $US2.3 billion ($2.98 billion), growing 8% in the Asia Pacific and 9% in North America.

Guy Carpenter's revenue in the first quarter was $895 million ($1.16 billion), an increase of 7% on an underlying basis.

Consulting revenue rose 6% while Oliver Wyman’s revenue jumped 11%.

Last month, Marsh McLennan Agency bought Montana-based PayneWest Insurance, which has 26 locations and more than 700 employees and will operate as MMA’s northwest regional hub.