Insurance broker Marsh’s revenue in the third quarter of 2010 rose 9 percent to $1.1 billion.
Marsh’s revenue growth in the United States / Canada was 3 percent in the quarter; international operations rose 2 percent, reflecting growth of 4 percent in Latin America, 3 percent in Asia Pacific, and 1 percent in EMEA. The company said that positive momentum from new business generation continued in the third quarter.
Parent company Marsh & McLennan Companies Inc. (MMC) consolidated revenue in the third quarter of 2010 rose 7 percent to $2.5 billion from the third quarter of 2009, or 4 percent.
Overall revenue for MMC’s Risk and Insurance Services segment, which includes Guy Carpenter as well as Marsh, in the third quarter of 2010 was $1.3 billion, an increase of 8 percent from the third quarter of 2009. Guy Carpenter’s third quarter 2010 revenue rose 4 percent to $233 million, or 3 percent.
Brian Duperreault, MMC president and CEO, said the insurance segment growth has occurred in a difficult market.
“The Risk and Insurance Services segment grew revenue in an environment of continued soft market conditions in the property and casualty marketplace. Marsh produced strong new business globally, with revenue growth across all geographic regions. Guy Carpenter generated excellent revenue growth, reflecting new business production and high retention rates,” he said.
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