Marsh enjoys solid revenue growth in Q2
Professional services firm Marsh & McLennan Companies increased revenue across its risk and insurance services in the second quarter of 2017, including reinsurance arm Guy Carpenter which grew 4 percent.
Marsh's revenue for the three-month period ending June 30 was $3.49 billion, an increase from $3.38 billion year-on-year.
Breaking down the group's risk and insurance services, Marsh's revenue was $1.61 billion, an increase from $1.56 billion year-on-year.
Guy Carpenter's revenue was $293 million, an increase from $285 million year-on-year.
Marsh's US and Canada segment's reported revenue was $850 million, a 6 percent increase year-on-year.
The EMEA segment's revenue was $497 million, a 4 percent increase year-on-year.
Partially offsetting this is Marsh's Asia Pacific segment, reporting a revenue of $168 million, an 8 percent decrease year-on-year.
Dan Glaser, president and CEO, said: "In the second quarter, on a consolidated basis, we generated solid underlying revenue growth of 3 percent with continued earnings growth and margin expansion. Underlying revenue increased across all four operating companies, with 2 percent growth in risk and insurance services and 4 percent in consulting.
"With a strong first half of 2017, we believe the Company is well positioned to deliver underlying revenue growth, margin expansion in both segments, and strong earnings per share growth this year.”
The net income attributable to the company in Q2 was $501 million, an increase from $472 million year-on-year.
Never miss an important re/insurance news story again - Sign up for our newsletter
Ascot hires strategy head from AIG to form new MGA
PartnerRe reports fall in half year results
Markel downgraded due to possible negative impact from $1.2bn M&A activity
EMEA and Asia Pacific developments boost RGA growth in Q2
Oak Hill acquires controlling stake in EPIC Insurance Brokers
Arthur J Gallagher’s revenues up in Q2, CEO “optimistic”
FM Global reveals Europe and Asia leadership changes
Arch Capital sees Q2 profit fall
Validus reports solid progress in Q2 2017 results
Don't miss our monthly insurtech email newsletter - sign up today
