Marsh produces organic growth of 3% for full year
Marsh & McLennan Companies (MMC) made a net profit of $1.36bn in 2013, up 15.4% on the $1.2bn it made in 2012.
Total revenues increased 2.8% to £12.3bn (2012: $11.9bn). Group-wide organic revenue growth was 3%.
MMC chief executive Dan Glaser said: “For the full year, Marsh & McLennan Companies’ results were outstanding.
“Marsh produced another year of strong performance, with underlying revenue growth across all major geographies and record new business development. Guy Carpenter’s results for the year were excellent, with underlying revenue growth of 5%.”
He added: “We are proud of our accomplishments this past year. We have established an operating platform that positions us well to deliver sustained long-term earnings-per-share growth approaching 13%.”
Marsh, MMC’s insurance broking division, boosted revenues by 4% in 2013 to £5.4bn (2012: $5.2bn). Marsh’s organic growth for the year was 3%.
Total revenues for MMC’s risk and insurance services division, which comprises Marsh and reinsurance broker Guy Carpenter, were also up 4% to $6.6bn (2012: $6.4bn). Organic growth was 3%.
Operating profit at the risk and insurance services division in 2013 grew 6.5% to $1.4bn (2012: $1.3bn).
This was despite flat operating profit of $310m in the fourth quarter alone.