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Member, Beacon International Group, Ltd.
NEW YORK—Marsh & McLennan Cos. Inc. reported revenue of $8.62 billion for the first nine months of 2011, up 10.9% from $7.77 billion in the same period last year.
The New York-based company said Wednesday that its net income for the first nine months of this year was $737 million, up 13% from $652 million for the first nine months of last year.
MMC reported $13 million in investment income, a 54.2% drop from the same period last year.
Brian Duperreault, president and CEO of MMC, said the company's third-quarter results reflected its ongoing strong performance. “All of our businesses continued to generate revenue growth and double-digit growth in profitability,” he said in a statement. “Marsh's high client revenue retention rates and new business development produced underlying revenue growth across all geographies. Guy Carpenter produced string results, continuing a long-term trend of underlying revenue growth.”
For its Marsh Inc. brokerage operations, revenue during the first three quarters of the year increased 11% to $3.85 billion.
Guy Carpenter & Co. L.L.P., MMC's reinsurance brokerage arm, posted revenues of $848 million, up 7% compared with the first nine months of 2010.
Consulting units also posted higher revenue.
Mercer L.L.C. had revenue of $2.84 billion for the first nine months of 2011, up 11% compared with the same period last year, while Oliver Wyman Group posted a 12% revenue increase of $1.08 billion.
Brian Duperreault, president and CEO of Marsh & McLennan Cos. Inc., will receive the Insurance Society of Philadelphia's inaugural Distinguished Leadership Award to its 19th Annual Independence Gala on Nov. 16, 2011, the society announced Thursday.