View this article online: https://www.insurancejournal.com/news/national/2021/07/22/623849.htm
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