Marsh & McLennan Cos.' (MMC) first-quarter profit rose 6.8%
as the insurance brokerage's revenue grew across its businesses and
margins expanded.
The company's insurance and consulting businesses have been a
continued source of strength for Marsh & McLennan, as have a
series of acquisitions that have given a boost to the firm's
revenue.
The company reported a profit of $347 million, or 63 cents a
share, up from a year-earlier profit of $325 million, or 58 cents a
share.
Revenue rose 5.8% to $3.05 billion. Analysts were looking for
earnings of 61 cents a share on $3.04 billion in revenue, according
to a poll conducted by Thomson Reuters.
Operating margin widened to 17.3% from 16.4%.
The company's risk and insurance division, its largest and home
to the core Marsh insurance brokerage business, saw revenue rise
6.9% to $1.75 billion. Marsh & McLennan's consulting business,
meanwhile, posted a 4.1% increase in revenue to $1.31 billion.
Shares closed Monday at $33.45 and were inactive in premarket
trade. The stock is up 5.8% since the start of the year.
-By Mia Lamar, Dow Jones Newswires; 212-416-3207;
mia.lamar@dowjones.com