Marsh & McLennan Cos. reported $303 million in net income for its 2013 fourth quarter, up 17 percent from $259 million posted during the prior-year fourth quarter. The full year 2013 net income was $1.4 billion, up nearly 17 percent from $1.2 billion during 2012.
Marsh & McLennan Cos.’s 2013 fourth quarter revenue was $3.1 billion, up 4 percent from the prior-year fourth quarter. The full year 2013 revenue was $12.3 billion, a 3 percent increase from 2012.
The Marsh insurance brokerage unit also saw its revenues rise on both quarterly and yearly basis. Marsh’s 2013 fourth quarter revenue was $1.4 billion, up 4 percent from the prior-year fourth quarter. Marsh’s full year 2013 revenue was $5.4 billion, a 3.9 percent increase from 2012.
The Guy Carpenter reinsurance brokerage unit reported $209 million in revenue for the 2013 fourth quarter, up 5.6 percent from a year ago. Guy Carpenter’s full year 2013 revenue was $1.1 billion, up 4.8 percent from 2012.
Marsh & McLennan Cos.’ consulting division, which includes Mercer and Oliver Wyman Group, also reported higher revenues. The 2013 fourth quarter revenue for the consulting division was $1.5 billion, up 3.7 percent from the prior-year fourth quarter. The full year 2013 revenue for the consulting division was $5.7 billion, up 1.6 percent from 2012.
“Marsh & McLennan Cos. had excellent results in the fourth quarter of 2013,” said Dan Glaser, president and CEO. He noted during the fourth quarter, Marsh had underlying revenue growth of 4 percent, with all geographic regions contributing.
For the full year, Marsh & McLennan Cos.’ results were outstanding, Glaser said. Marsh produced another year of strong performance, with underlying revenue growth across all major geographies and record new business development, he said.
“We are proud of our accomplishments this past year. We have established an operating platform that positions us well to deliver sustained long-term EPS growth approaching 13 percent,” Glaser said.
Was this article valuable?
Here are more articles you may enjoy.