Global insurance broker Marsh’s revenue in the second quarter of 2010 rose 9 percent to $1.2 billion from the same period in 2009.
Revenue growth in international operations was 6 percent, reflecting 3 percent growth in Europe, the Middle East and Africa, 12 percent in Asia Pacific and 13 percent in Latin America.
Marsh reported strong growth in new business in the quarter even as insurance premiums in the property/casualty marketplace continued to decline.
In the quarter, Marsh completed the acquisition of HSBC Insurance Brokers. Additionally, Marsh & McLennan Agency acquired The Bostonian Group Insurance Agency.
Parent company Marsh & McLennan Companies, Inc. (MMC) reported that revenue in the second quarter of 2010 rose 6 percent to $2.6 billion from the second quarter of 2009. Net income was $236 million, compared to a loss in the prior year period.
MMC’s Kroll unit has been classified as a discontinued operation following the agreement reached by MMC in June to sell Kroll to Altegrity for $1.13 billion. The transaction is expected to close this week.
Guy Carpenter’s second quarter 2010 revenue rose 7 percent to $243 million, or
2 percent on an underlying basis, reflecting strong new business generation.
Topics Profit Loss
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