Wednesday, 23 August 2017

Marsh parent boosts broking profit

Marsh parent MMC reports rise in revenue and broking profit

The broking division of Marsh & McLennan Companies (MMC) made an operating profit of $1.14bn (£874m) in the first half of 2017, up 11% on the $1bn it made in last year’s first half.

MMC’s Risk & Insurance Services division, which comprises insurance broker Marsh and reinsurance broker Guy Carpenter, also posted a 5% increase in revenue to $3.91bn (H1 2016: $3.72bn). Organic growth was 3%.

Within the division, Marsh grew first-half revenue by 5% to $3.21bn (H1 2016: $3.05bn) and produced 3% organic growth.

Guy Carpenter grew first-half revenue by 3% to $678m (H1 2016: $659m) and produced organic growth of 4%.

As well as boosting its broking profit, MMC as a group increased profit before tax by 7% to $1.46bn (H1 2015: $1.37bn) and grew revenues by 4% to $7bn from $6.71bn.

MMC chief executive Dan Glaser (pictured) said: “With a strong first half of 2017, we believe the Company is well positioned to deliver underlying revenue growth, margin expansion in both segments, and strong earnings per share growth this year.”

Have your say

Please add your comment. Remember that submission of comments is governed by our Terms and Conditions. You can include links, but HTML is not permitted.

Mandatory
Mandatory
Mandatory
Mandatory
Mandatory