Marsh & McLennan Companies is off to a good start this year and posted growth in its risk and insurance services division, according to the firm’s first-quarter financial results.
“We are pleased with our performance in the first quarter,” President and CEO Dan Glaser said. “Marsh & McLennan Companies had underlying revenue growth across all of our operating companies, with growth of 5% in risk and insurance services and 3% in consulting. We delivered strong operating income growth with solid margin expansion. With a strong start to the year, we believe the company is well-positioned to deliver underlying revenue growth, margin expansion in both operating segments, and strong earnings-per-share growth in 2017.”
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The company’s risk and insurance services revenue was $2 billion in the first quarter, an increase of 6%, or 5% on an underlying basis. Operating income was $613 million, a 15% jump. Adjusted operating income was up 10% to $600 million, from $543 million in the first quarter of 2016.
For Marsh & McLennan as a whole, earnings per share jumped 20% to $1.09, while adjusted EPS rose 17% to $1.08. Consolidated revenue in Q1 was $3.5 billion, while operating income jumped 10% year over year to $809 million.
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