The broking division of Marsh & McLennan Companies (MMC) made an operating profit of $1.03bn (£781m) in the first half of 2016, up 7% on the $960m it made in the same period last year.
The division, which comprises insurance broker Marsh and reinsurance broker Guy Carpenter, produced a 5% increase in revenues in the half to $3.7bn (H1 2015: $3.6bn) and organic growth of 2%.
Marsh’s revenues increased by 5% to $3bn (H1 2015: $2.9bn) and organic growth was 2%.
Guy Carpenter’s revenues were up by 2% to $659m (H1 2015: $643m) and organic growth was 3%.
MMC as a group made a profit of $1.4bn in the first half of 2016, up 5% on the $1.3bn it made in the same period last year.
Revenues increased 4% to $6.7bn (H1 2015: $6.4bn).
Second quarter
In the second quarter of 2016 alone, MMC’s broking division made an operating profit of $490m, up 15% on the $427m it made in the second quarter of 2015.
Group-wide, MMC’s profit before tax increased 14% to $681m (Q2 2015: $595m).
MMC chief executive Dan Glaser (pictured) said: “We delivered another strong quarter.”
He added: “We continue to produce strong results as we help clients navigate global
uncertainty. We expect to deliver underlying revenue growth, meaningful margin expansion and strong growth in earnings per share in 2016.”
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