MMC Q1 revenue rises to USD 5.5 bn

29 April 2022 —
Global re/insurance broker MMC posted Q1 2022 aggregate revenue of USD 5.5 billion, an increase of 9% compared with the first quarter of 2021. Q1 operating income was USD 1.4 billion, an increase of 6% from the prior year while net income attributable to the Company was USD 1.1 billion, or USD 2.10 per diluted share, compared with USD 1.91 in Q1 2021.

Risk & Insurance Services revenue was USD 3.5 billion in the first quarter of 2022, an increase of 10%, or 11% on an underlying basis. Operating income rose 6% to USD 1.1 billion, and adjusted operating income was USD 1.2 billion, an increase of 12% versus a year ago.

Marsh's revenue in the first quarter was USD 2.5 billion while Guy Carpenter's revenue was USD 999 million.

Consulting revenue was USD 2.0 billion in the first quarter of 2022, an increase of 7%, or 10% on an underlying basis. Operating income increased 8% to USD 392 million, and adjusted operating income increased 9% to USD 402 million.

Mercer's revenue in the first quarter was USD 1.3 billion (Career - USD 202 million; Health revenue - USD 524 million; Wealth revenue - USD 617 million), while Oliver Wyman's revenue was USD 667 million.

Dan GLASER, President and CEO, said: "Marsh McLennan started 2022 with an excellent first quarter. We generated underlying revenue growth of 10%, adjusted operating income growth of 12%, and adjusted EPS growth of 16%. We are well-positioned for another solid year."

"The current war in Ukraine has reminded us that risk and uncertainty are constants, and I am proud of the work our colleagues are doing to help one another and our clients navigate the widespread challenges created by this horrific situation."

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