Marsh reports 4% organic growth for year
Marsh & McLennan Companies’ broking division made an operating profit of $1.5bn (£990m) in 2014, up 6% on the $1.4bn it made in 2013.
The division, which comprises insurance broker Marsh and reinsurance broker Guy Carpenter, grew total revenues by 5% to $6.9bn (2013: $6.6bn), producing organic growth of 3%.
Marsh alone grew revenues by 6% in the year to $5.8bn (2013: $5.4bn) producing organic growth of 4%.
Guy Carpenter’s revenues grew 2% to $1.15bn (2013: $1.13bn), producing organic growth of 2%.
MMC group chief executive Dan Glaser said: “Marsh produced another year of outstanding performance, with substantial underlying revenue growth across all major geographies and record new business development.
“Guy Carpenter’s results for the year were solid, with underlying revenue growth of 2%, despite significant industry-wide headwinds.”
As a group, MMC made a profit after tax of $1.47bn up 8% on the $1.36bn it made in 2013.
Total revenues increased by 6% to $13bn (2013: $12.3bn).
In addition to its broking division, MMC has a consulting division which comprises Mercer and Oliver Wyman.
Glaser said: “We’re proud to have delivered another year of excellent results, with strong revenue and earnings-per-share growth and the return of capital to shareholders through double-digit growth in dividends and increased share repurchases.”