Marsh & McLennan Companies Inc., the global insurance and professional services provider, reported revenue growth of 7 percent in the second quarter.
“This was our strongest quarterly revenue performance in two years, with all operating companies contributing,” said President and CEO Dan Glaser.
MMC’s consolidated revenue in the second quarter of 2014 was $3.3 billion, an increase of 7 percent compared with the second quarter of 2013. Operating income rose 12 percent to $647 million, compared with $577 million in the prior year. Net income attributable to the company in the second quarter was $431 million compared with $388 million,
For the six months ended June 30, 2014, net income was $874 million compared with $801 million in 2013.
Marsh, the company’s insurance unit, saw revenue in the second quarter of $1.5 billion, an increase of 7 percent. International operations produced underlying revenue growth of 5 percent, reflecting growth of 16 percent in Latin America; 9 percent in Asia Pacific; and 1 percent in EMEA. In the U.S./Canada division, underlying revenue was up 3 percent.
Reinsurance broker broker Guy Carpenter’s second quarter revenue was $295 million, an increase of 3 percent from the prior year, or 2 percent on an underlying basis.
In the second quarter, MMC had an investment loss of $2 million, compared with investment income of $23 million in the prior year.
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