Glaser hails 'outstanding' Q1 as Marsh reports increased profits
Marsh McLennan saw its profits increase year on year in its first quarter 2021 financial results.
Marsh reported net profit of $983 million for Q1, compared to $754 million in the same period of 2020.
Marsh generated revenues of $2.3 billion in Q1 2021, up from $2 billion in the same period of the previous year. In the US and Canada its underlying revenue rose 9 percent, while international operations produced underlying revenue growth of 6 percent, driven by 8 percent growth in Asia Pacific, 6 percent growth in EMEA and 6 percent growth in Latin America.
Consolidated revenue in Q1 2021 was $5.1 billion, an increase of 9 percent compared with Q1 2020. Operating income was $1.4 billion, compared with $1.1 billion the previous year.
Revenue in the risk and insurance services segment was $3.2 billion in Q1 2021, an increase of 11 percent on the $2.9 billion earned in Q1 2020. Of that, $895 million was earned by Guy Carpenter, also up on the $827 million reported in Q1 2020.
Dan Glaser, president and chief executive officer at Marsh, lauded “an outstanding first quarter” which he said “positions us well for the balance of the year."
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
