Life Insurance

Marsh McLennan reveals “outstanding” Q2 results

Consolidated revenue for the group in Q2 2021 was $5.0 billion, a 20% rise compared

with Q2 2020. On an underlying basis, revenue increased 13%. Meanwhile, operating income was $1.2 billion, an increase of 39% from the prior year. Adjusted operating income rose 24% to $1.2 billion.

Net income attributable to the company was $820 million, or $1.60 per diluted share, compared with $1.12 in Q2 2020, while adjusted earnings per share rose 33% to $1.75 per diluted share compared with $1.32 for the prior year period.

For the six months ended June 30, 2021, consolidated revenue was $10.1 billion, an increase of 14%, or 9% on an underlying basis compared to the prior period. Operating income rose 32% to $2.6 billion, from the prior year period. Adjusted operating income rose 22% to $2.6 billion. Meanwhile, net income attributable to the company stood at $1.8 billion.

Risk & insurance services

During Q2 2021, MMC’s risk and insurance revenue rose 21% (or 13% on an underlying business) from Q2 2020 to $3.1 billion, while operating income rose 37% to $950 million, and adjusted operating income to $927 million, an increase of 22% from the prior year period.

For H1 2021, revenue was $6.4 billion, an increase of 15%, or 10% on an underlying basis, while operating income rose 30% to $2.0 billion, and adjusted operating income was $2.0 billion, an increase of 19% from H1 2020.

Marsh’s revenue in the second quarter was $2.7 billion, an increase of 14% on an underlying basis. In US/Canada, underlying revenue rose 15%, while international operations produced underlying revenue growth of 13%, reflecting 16% growth in EMEA, 10% growth in Asia-Pacific, and 2% in Latin America.

Guy Carpenter’s revenue in Q2 2021 increased 12% on an underlying basis to $488 million, and its H1 2021 revenue has grown 8% from the prior-year period.

Consulting

The group reported that its consulting revenue in the Q2 2021 quarter was $1.9 billion, an increase of 17%, or 12% on an underlying basis, compared to the same period a year ago. Its operating income increased 35% to $344 million, while adjusted operating income increased 34% to $356 million.

For the first six months of 2021, revenue totalled $3.8 billion, an increase of 11%, or 8% on an underlying basis. Operating income of $705 million increased 31%, and adjusted operating income increased 31% to $726 million.

Mercer, meanwhile, saw revenue of $1.3 billion in Q2 2021, an increase of 6% on an underlying basis. For H1 2021, ended June 30, 2021, Mercer’s revenue was $2.6 billion, an increase of 3% on an underlying basis compared to the same period a year ago.

Oliver Wyman’s revenue was $618 million in Q2 2021, an increase of 28% on an underlying basis. For the first six months ended June 30, 2021, Oliver Wyman’s revenue was $1.2 billion, an increase of 19% on an underlying basis.

Adding to his comments above, Glaser noted that: “These results are a direct reflection of the hard work and dedication of our colleagues around the world. We look forward to carrying this momentum into the second half of the year.”

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