Marsh McLennan Reports 9% Revenue Growth in Q1



MarshMcLennan reported financial results for the first quarter of 2021 that included consolidated revenue of $5.1 billion, an increase of 9% compared with the first quarter of 2020.

Operating income was $1.4 billion compared with $1.1 billion in the prior year.

Net income was $983 million, compared with $754 million in the prior year first quarter.

“Our excellent start to 2021 positions us well for the balance of the year,” commented Dan Glaser, president and CEO.

Risk & Insurance Services

Risk & Insurance Services revenue was $3.2 billion in the first quarter of 2021, an increase of 11% compared with the first quarter 2020. Operating income of $1.1 billion increased 24% from the prior year.

Insurance broker Marsh’s revenue in the first quarter was $2.3 billion, an increase of 8% on an underlying basis. In US/Canada, underlying revenue rose 9%. International operations produced underlying revenue growth of 6%.

Reinsurance broker Guy Carpenter’s revenue in the first quarter was $895 million, an increase of 7% on an underlying basis.

Consulting

Consulting revenue in the first quarter was $1.9 billion, an increase of 6%, or 3% on an underlying basis. Operating income of $361 million increased 28% from the prior year.

Mercer, with revenue of $1.3 billion in the first quarter, was flat on an underlying basis, while Oliver Wyman’s revenue was $585 million in the first quarter, an increase of 11% on an underlying basis.

Source: MarshMcLennan

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