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Marsh McLennan Reports 9% First Quarter Revenue Growth

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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.

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“Our excellent start to 2021 positions us well for the remainder of the year,” commented Dan Glaser, President and CEO.

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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%.

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Reinsurance broker Guy Carpenter’s first quarter revenue was $ 895 million, an increase of 7% on an underlying basis.

Consultant

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.

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Source: MarshMcLennan

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