MMC posted acceleration in Q2 growth across all businesses

28 July 2021 — Andrei Victor
Re/insurance broker Marsh McLennan (MMC) posted aggregate Q2 2021 revenue of USD 5 billion, an increase of 20% compared with the second quarter of 2020. Operating income was USD 1.2 billion, an increase of 39% from the prior year. For the six months ended June 30, 2021, consolidated revenue was USD 10.1 billion, an increase of 14% compared to the prior period, while operating income was USD 2.6 billion, an increase of 32% from the prior year period.

Dan Glaser, President and CEO, said: "Our performance this quarter was outstanding. The company achieved the strongest underlying growth in two decades, and experienced an acceleration in growth across all of our businesses".

Per business lines, Risk & Insurance Services revenue was USD 3.1 billion in the second quarter of 2021, a nominal increase of 21%, while operating income rose 37% to USD 950 million. For the six months ended June 30, 2021, revenue was USD 6.4 billion, an increase of 15%, while operating income rose 30% to USD 2.0 billion. Marsh's revenue in the second quarter was USD 2.7 billion (up by 14%), while Guy Carpenter's Q2 revenue was USD 488 million (+12% y-o-y). For the six months ended June 30, 2021, Marsh's revenue increased to more than USD 4.9 billion, while Guy Carpenter's revenue totaled USD 1.4 billion.

Consulting revenue in the second quarter was USD 1.9 billion, an increase of 17% y-o-y, while operating income increased 35% to USD 344 million. For the first six months of 2021, revenue was USD 3.8 billion, an increase of 11%, while operating income of USD 705 million increased 31%. Mercer's Q2 revenue was USD 1.3 billion, an increase of 6%. While January-June revenue was USD 2.6 billion, an increase of 3%. Oliver Wyman's Q2 revenue was USD 618 million, an increase of 28%, while for the first six months ended June 30, 2021, Oliver Wyman's revenue was USD 1.2 billion, an increase of 19%.

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