Marsh McLennan reveals strongest underlying growth in two decades

Broker  Marsh McLennan (MMC) had an "outstanding" second quarter with total revenue rising 20 percent, driven by acceleration in growth across all of its businesses.

The company reported a net profit of $820 million for Q2, compared with $572 million in the second quarter of 2020. For the first half of the year, net profit attributable to the company was $1.8 billion, up from $1.33 billion reported in H1 2020.

MMC reported a 20 percent uptick in its consolidated revenue, which reached $5 billion in Q2. On an underlying basis, revenue increased 13 percent.

For the six months ended June 30, consolidated revenue was $10.1 billion, an increase of 14 percent, or 9 percent on an underlying basis compared to the prior period.

The broker's reinsurance business Guy Carpenter reported a 12 percent increase in its revenue for the second quarter, reaching $488 million, while the Risk & Insurance Services segment saw its revenue go up by 21 percent during the quarter. Marsh's revenue also saw an increase of 14 percent on an underlying basis, attaining $2.7 billion.

“Our performance this quarter was outstanding," said Dan Glaser (pictured), president and CEO of MMC. "The company achieved the strongest underlying growth in two decades, and experienced an acceleration in growth across all of our businesses.

"We grew underlying revenue by 13 percent, adjusted operating income by 24 percent, and adjusted EPS by 33 percent.

“These results are a direct reflection of the hard work and dedication of our colleagues around the world. We look forward to carrying this momentum into the second half of the year.”

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