Global insurance, risk and consulting firm Marsh & McLennan Companies Inc. reported growth across all of its companies in for the first quarter ended March 31, 2016.
Consolidated revenue in the first quarter of 2016 was $3.3 billion, an increase of 4 percent over the first quarter of 2015. Operating income was $733 million, essentially flat compared with $735 million in the prior year.
Revenue for the Risk & Insurance Services companies — insurance broker Marsh and reinsurance broker Guy Carpenter— was $1.9 billion in the first quarter of 2016, an increase of 2 percent. Risk & Insurance Services generated operating income of $535 million and adjusted operating income of $543 million.
Marsh produced revenue in the first quarter of $1.5 billion, an increase of 2 percent. Marsh’s international operations produced underlying revenue growth of 2 percent, reflecting growth of 1 percent in EMEA (Europe, the Middle East and Africa), 3 percent in Asia Pacific and 6 percent in Latin America. In U.S./Canada, underlying revenue rose 2 percent.
Guy Carpenter’s revenue in the first quarter was $374 million, an increase of 3 percent.
“We are off to a strong start to the year, and believe the company is well positioned to deliver underlying revenue growth, meaningful margin expansion in both operating segments and strong earnings per share growth in 2016,” said Marsh & McLennan Companies President and CEO Dan Glaser.