Posted on 01 May 2012
Marsh & McLennan Cos. Inc. reported today that its first-quarter 2012 revenues rose 5.5% compared with the same period in 2011 to $3.05 billion.
Revenues for the company’s Marsh Inc. brokerage and risk management unit rose 7.8% to $1.38 billion, while those for its Guy Carpenter & Co. L.L.C. reinsurance unit rose 5% to $357 million. Revenues for its Mercer L.L.C. human resource consulting unit rose 3.8% to $957 million, and those of its Oliver Wyman Group management consulting group rose 4.8% to $356 million, the company said.
Marsh & McLennan’s net income for the quarter grew 6.8% from the same quarter in 2011 to $347 million.
“Our performance in the first quarter continues to build on the strong momentum achieved by the company over the past two years,” said Brian Duperreault, Marsh & McLennan’s president and CEO, in a statement discussing the results.
“Marsh's performance was excellent, with strong new business development and higher client revenue retention rates contributing to underlying revenue growth across all geographies,” said Mr. Duperreault in the statement. “Guy Carpenter’s strong underlying revenue growth in the quarter, which was driven by international operations, extends the trend of quarterly growth into the fourth consecutive year.”