Marsh & McLennan 3Q Earnings, Revenue Jump
19 October 2023 - 10:47PM
Dow Jones News
By Rob Curran
Marsh & McLennan posted a 34% increase in third-quarter net
income, reflecting robust growth at both its insurance and
consulting operations.
The New York insurance brokerage and consulting firm logged
earnings of $730 million, or $1.47 a share, up from $546 million,
or $1.08 a share, a year earlier. Excluding certain items, earnings
rose to $1.57 a share, handily beating the average analyst estimate
of $1.39 a share as tabulated by FactSet.
Revenue rose 13% to $5.38 billion, surpassing the
FactSet-tallied analyst target of $5.22 billion
Revenue at the firm's Risk & Insurance Services unit
increased 12% to $3.2 billion. Consulting revenue rose 13% to $2.2
billion, with growth at both the Mercer and Oliver Wyman
brands.
Write to Rob Curran at rob.curran@wsj.com
(END) Dow Jones Newswires
October 19, 2023 07:32 ET (11:32 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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