MarshMcLennan released financial results for the first quarter of 2021 which included consolidated revenue of $ 5.1 billion, an increase of 9% from the first quarter of 2020.
Operating profit was $ 1.4 billion, up from $ 1.1 billion the previous year.
Net income was $ 983 million, compared to $ 754 million in the first quarter of last year.
“Our excellent start to 2021 positions us well for the remainder of the year,” commented Dan Glaser, President and CEO.
Risk and insurance services
Risk and insurance services revenue was $ 3.2 billion in the first quarter of 2021, an increase of 11% from the first quarter of 2020. Operating profit of 1 , $ 1 billion increased 24% from the previous year.
Insurance broker Marsh’s first quarter revenue was $ 2.3 billion, an 8% increase on an underlying basis. In US / Canada, underlying revenue increased 9%. International operations produced underlying revenue growth of 6%.
Reinsurance broker Guy Carpenter’s first quarter revenue was $ 895 million, an increase of 7% on an underlying basis.
Consulting revenue in the first quarter was $ 1.9 billion, an increase of 6%, or 3% on an underlying basis. Operating profit of $ 361 million increased 28% from the previous year.
Mercer, with first quarter revenue of $ 1.3 billion, was stable on an underlying basis, while Oliver Wyman’s first quarter revenue was $ 585 million, representing an increase of 11% on an underlying basis.
Loss of profit
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