Marsh & McLennan Companies Inc. (MMC) reported underlying revenue growth in the fourth quarter of four percent, an increase in adjusted operating income of 11 percent and continued margin expansion in both its Risk and Insurance Services and its Consulting segments.
Consolidated revenue for MMC in the first quarter of 2014 was $3.3 billion, an increase of four percent compared with the first quarter of 2013.
MMC net income was $443 million for the first quarter — compared with $413 million in the prior year’s first quarter.
Total revenue for Risk and Insurance Services was $1.8 billion in the first quarter, an increase of four percent.
Insurance broker Marsh’s revenue in the first quarter of 2014 was $1.5 billion, an increase of five percent. International operations produced underlying revenue growth of four percent, while in the U.S./Canada division, underlying revenue was up two percent.
Reinsurance broker Guy Carpenter’s revenue was $381 million, an increase of two percent from the prior year.
“This represents a strong start to 2014 and continues the excellent momentum we have achieved over the past several years,” MMC President and CEO Dan Glaser said.
Aon reported total revenue was up one percent to $2.9 billion while net income was $325 million for the first quarter compared to $261 million for the prior year quarter.