Marsh McLennan reports 6% YoY revenue rise in Q2 2024

Asia Pacific’s underlying revenue climbed 70% YoY.

Marsh McLennan’s second quarter (Q2 2024) saw 6% year-on-year (YoY) increase in underlying revenue, reaching $6.2b. 

Net income for the quarter was $1.1b, with earnings per share (EOS) rising 10% YoY to $2.27.

The company also reported a 10% growth in adjusted EPS and a 130 basis point margin expansion. 

For the first half of 2024, revenue totaled $12.7b, an 8% YoY rise, with net income at $2.5b and adjusted EPS up 12% to $5.30. 

Risk & Insurance Services saw an 8% YoY revenue increase to $4.0b in Q2, whilst Consulting revenue grew 2% YoY to $2.2b.

Asia Pacific’s underlying revenue climbed 70% YoY.

Marsh’s revenue during the period saw $3.3b, an 8% YoY increase, or 7% YoY on an underlying basis. 

In US/Canada, underlying revenue rose 6%, whilst international operations saw 7% YoY growth, driven by 8% growth in Latin America, and 7% YoY in both EMEA and Asia Pacific. 

For the first half of 2024, Marsh’s underlying revenue grew 7% YoY.

Guy Carpenter reported Q2 revenue of $632m, up 10% YoY, or 11% YoY on an underlying basis. For the first six months, its underlying revenue grew 9% YoY.

Mercer’s Q2 revenue was $1.4b, flat on a GAAP basis, but up 5% YoY on an underlying basis. 

Health revenue increased 9% YoY to $547m, Wealth revenue rose 3% YoY to $612m, and Career revenue grew 2% YoY to $220m. 

For the first half of 2024, Mercer’s underlying revenue increased 6% YoY to $2.8b.