MMC Q2 revenue increases by 3% reflecting growth across all operating companies
The MARSH & McLENNAN Companies (MMC) reported Q2 2017 consolidated revenues of USD 3.5 billion, up by 3% y-o-y. The operating income increased by 5%, to USD 764 million, while the net income attributable to the company was USD 501 million (vs. USD 472 million in Q2 2016).
Revenue for the Risk and Insurance Services totalled USD 1.9 billion (2% more y-o-y), while the operating was USD 528 million, an increase of 7% y-o-y. In the analysed period, MARSH insurance broker's revenue reached USD 1.6 billion, while the reinsurance broker GUY CARPENTER's revenue was of USD 293 million.
Total revenue for the Consulting sector, which includes MERCER and OLIVER WYMAN Group, was USD 1.6 billion (4% more y-o-y), while the operating was down by 1% to USD 283 million. MERCER's revenue was USD 1.1 billion, while OLIVER WYMAN Group's revenue was USD 483million.
Dan GLASER, President & CEO, said: "In the second quarter, on a consolidated basis, we generated solid underlying revenue growth of 3% with continued earnings growth and margin expansion. Underlying revenue increased across all four operating companies, with 2% growth in Risk & Insurance Services and 4% in Consulting".
MMC said that for the six months ended June 30, 2017, consolidated revenue was USD 7.0 billion, an increase of 4% y-o-y, while the net income attributable to the Company increased 12% to USD 1.1 billion.
"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", concluded Dan GLASER.
Author: Vlad BOLDIJAR
Comment this article