Marsh & McLennan Companies (MMC) made a net profit of $325m in the first quarter of 2011, up 31% on the $248m it made last year.
The group, which is the parent of insurance broker Marsh, consulting firm Mercer and reinsurance broker Guy Carpenter, saw its revenues increase 9.4% to $2.9bn from $2.6bn.
Marsh, the biggest company in the group, saw its revenues increase 10% to $1.3bn from $1.2bn, while Guy Carpenter’s revenue was up 8% to $340m from $315m. Total risk and insurance revenues, which incorporates Marsh, Guy Carpenter and fiduciary interest income, came in at $1.6bn in Q1 2011, up 10% on Q1 2010’s $1.5bn.
The risk and insurance division made an operating profit of $383m in Q1 2011, up 10% on the $347m it made in the same period last year.
"Our performance in the first quarter of 2011 reflects strong revenue growth across all of our operating companies,” said MMC chief executive Brian Duperreault in a statement. “Excellent results for risk and insurance services reflect underlying revenue growth at Marsh and Guy Carpenter.”
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