Guy Carpenter accelerates growth in Q4
Guy Carpenter, the Marsh & McLennan Companies reinsurance arm grew revenues by 8 percent year on year to $239 million in the fourth quarter of 2017.
This was an acceleration from the 4 percent revenue growth to $1.19 billion registered for the full year of 2017.
Sister company Marsh, the insurance broking arm of Marsh & McLennan Companies has also sped up growth in the fourth quarter of 2017, driven by the EMEA region, its biggest regional operation.
Revenue grew 9 percent year on year to $1.7 billion in the fourth quarter of 2017. This compares to 7 percent growth year on year to $6.40 billion in the full year of 2017.
Overall, Marsh & McLennan’s risk & insurance services’ revenue was $2 billion in the fourth quarter of 2017, an increase of 9 percent compared to the same period a year ago. Operating income of $416 million was essentially flat with the prior year and includes $47 million pension settlement charge resulting from lump sum settlements elected by participants in certain UK pension plans.
For the year 2017, revenue of Marsh & McLennan’s risk & insurance services was $7.6 billion, an increase of 7 percent compared to 2016. Operating income rose 7 percent to $1.9 billion over the period.
Join us at Intelligent Automation in Insurance - London 2018. Book by Feb 28th and you could save £300.
More of today's news
LIIBA demands contract continuity in Brexit negotiations
Armour acquires Gibraltar-based Elite Insurance
