Marsh & McLennan reports higher revenue, net income

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.