Global insurance and professional services firm Marsh McLennan (MMC) reported financial results for the second quarter ended June 30, 2021, including consolidated revenue of 2021 of $5.0 billion, an increase of 20% compared with the second quarter of 2020.
MMC consolidated net income for the second quarter was $820 million compared with $1.12 in the second quarter of 2020. For the six months ended June 30, 2021, consolidated revenue was $10.1 billion, an increase of 14%, and net income was $1.8 billion.
“Our performance this quarter was outstanding,” said Dan Glaser, president and CEO.
The Risk & Insurance Services division revenue was $3.1 billion in the second quarter of 2021, an increase of 21%.
In this division, insurance broker Marsh had revenue of $2.7 billion, an increase of 23% on a GAAP basis or 14% on an underlying basis. For the six months ended June 30, 2021, Marsh’s underlying revenue growth was 11% compared to the prior period a year ago.
(Correction: An earlier version incorrectly reported the increase in Marsh revenue on a GAAP basis as 14%, not 23%.)
Reinsurance broker Guy Carpenter’s revenue was $488 million, an increase of 12%. For the six months ended June 30, 2021, Guy Carpenter’s underlying revenue growth was 8%.
Consulting revenue for Mercer and Oliver Wyman in the second quarter was $1.9 billion, an increase of 17%.
Source: Marsh McLennan
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
State Farm Sued Over Policies Backed by Distressed Insurer PHL 
Trump Outlines Plan to Unwind Biden-Era Car Mileage Mandates 
Lawsuit Over Burger King’s Whopper Ads Set Back by Federal Judge 
How ‘Super Roofs’ Reward Insurers, Cat Bond Investors and Homeowners 
