MMC’s combined broking profit jumps 12% in 2012
Reinsurance broker Guy Carpenter posted revenues of $1.1bn in 2012, up 4% on the $1bn it made in 2011.
After stripping out a 1% revenue reduction caused by currency movements and a further 1% cut caused by acquisitions and dispositions, organic revenue growth at the reinsurance broker was 6%.
Chief executive of parent firm Marsh & McLennan Companies (MMC) Dan Glaser said: “Guy Carpenter’s underlying revenue growth of 6% marked its highest increase in several years.”
Guy Carpenter makes up part of MMC’s risk and insurance services division along with sister insurance broker Marsh.
The risk and insurance services division made a 2012 operating profit of $1.4bn, a 12% increase on 2011’s profit of $1.2bn.
The division’s revenues increased 4% to $6.6bn (2011: $6.3bn). The increase was 5% on an organic basis.
As a group MMC, which also includes consulting firms Mercer and Oliver Wyman, made a net profit of $1.2bn, up 18% on 2011’s $993m.
MMC’s total revenues increased 3.4% to $11.9bn (2011: $11.5bn).
Glaser said: “We look forward to the next chapter in our journey to become one of the world’s elite enterprises. We will strive to provide outstanding, innovative services to clients, make Marsh & McLennan Companies a great place to work for our colleagues and deliver long-term profitable growth for shareholders.”