Marsh & McLennan earns strong revenue and profitability growth in Q1

Insurance Business America | April 29, 2019

Marsh & McLennan Companies (MMC), the name behind Marsh, has reported its financial results for the first quarter of 2019, noting an improvement in its performance for the period. According to MMC president and CEO Dan Glaser, the company “delivered strong growth in underlying revenue and profitability” in Q1 2019, with double-digit adjusted earnings growth and adjusted margin extension in MMC’s risk & insurance and consulting businesses. MMC’s underlying revenue growth was 4%, while adjusted operating income increased 11% during the quarter. The adjusted margin rose 210 basis points to 26.2%, a release revealed. Consolidated revenue for MMC in the first quarter of the year was US$4.1 billion (around £3.16 billion) – an increase of 2% (or 4% on an underlying basis) – compared to the same quarter last year. Operating income was US$938 million (around £725.1 billion), up from US$908 million (around £701.9 billion) in the prior year. Adjusted income climbed 11% to US$1.0 billion.

Spotlight

Artificial intelligence today is advancing at a rapid pace and fast becoming applicable to all parts of the insurance value chain. Today's machine learning AI has far more potential than the traditional rule-based approach. From advisory & sales to smart claims management to automated underwriting, Munich Re discusses leveraging AI in a number of exciting use cases and pilots.

Spotlight

Artificial intelligence today is advancing at a rapid pace and fast becoming applicable to all parts of the insurance value chain. Today's machine learning AI has far more potential than the traditional rule-based approach. From advisory & sales to smart claims management to automated underwriting, Munich Re discusses leveraging AI in a number of exciting use cases and pilots.

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