Global brokerage giant Marsh & McLennan continues its strong growth in 2016 with higher revenues for the third quarter.
The company announced Tuesday that its consolidated revenue in the previous quarter slightly increased to US$3.1 billion while operating income rose 24% to US$572 million. Net income attributable to the company was up by 17% to US$379 million.
Revenue from the firm’s risk and insurance services climbed 3% to US$1.6 billion while operating income soared by 39% to US$315 million.
Marsh, the group’s insurance broking and risk management unit, recorded revenue of US$1.4 billion in the third quarter, up by 2%. International operations produced a 2% growth while revenue from the North American division increased by 3%.
The company’s risk and reinsurance intermediary services arm,
Guy Carpenter, saw its revenues in the third quarter decrease marginally from US$261 million to US$260 million.
Marsh & McLennan president and CEO Dan Gasler described the company’s third-quarter performance as “strong.”
“Through nine months, we have generated underlying revenue growth of 3%, solid earnings growth and margin expansion in each segment,” Gasler said.
For the full year, we continue to expect to deliver underlying revenue growth, meaningful margin expansion and strong growth in earnings per share,” he added.
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