Marsh McLennan Q1’24 revenue up 9% to $6.5b

Marsh’s APAC business saw its revenue jump 6% YoY.

Marsh McLennan’s first quarter (Q1’24) revenue climbed 9% year-on-year (YoY), totalling $6.5b.

Net income attributable to the company stood at $1.4b, whilst earnings per share (EPS) rose by 14% to $2.82. Adjusted earnings per share also increased by 14% to $2.89.

In risk & insurance services, revenue reached $4.3 billion, reflecting a 9% YoY increase on both GAAP and underlying bases. 

Operating income rose by 12% YoY to $1.6b, with adjusted operating income increasing by 11% to $1.6b.

ALSO READ: Transactional insurance hits $49b in ‘challenging year’ – Marsh

Marsh's revenue for the quarter was $3.0b, a 9% YoY increase, or 8% YoY on an underlying basis. 

Notably, in the U.S./Canada, underlying revenue rose by 8% YoY. International operations saw underlying revenue growth of 8% YoY, with EMEA growing by 9% YoY, Latin America by 8% YoY, and Asia Pacific by 6% YoY.

Guy Carpenter's revenue in the first quarter was $1.1b, showing a 7% YoY increase, or 8% YoY on an underlying basis.