Marsh revenues and profits rise

Global insurance broker Marsh brought in $4.7bn of revenue in the full year of 2010, up 10% on the $4.3bn it made in 2009.

Of the 10% growth, six points were attributed to acquisitions and dispositions and 1 point to currency fluctuations, leaving organic growth at 2%.

Marsh’s Europe, Middle East and Africa segment posted 2010 revenues of $1.7bn, up 8% on the £1.6bn made in 2009 and up 3% on an organic basis.

The region with the biggest growth overall was Asia Pacific, with 20%, and the region with the most organic growth was Latin America, with

Reinsurance broker Guy Carpenter, a sister company of Marsh within US broking and consulting group Marsh & McLennan Companies (MMC), saw its revenues rise 7% to $975m in 2010 from $911m in 2009.

The risk and insurance services division of MMC as a whole, which includes Marsh and Guy Carpenter, saw its revenue increase 9% to $5.8bn from $5.3bn.

The risk and insurance services division made an operating profit of $1.1bn in 2010, up 10% on the $985m it made in 2009.

Overall, MMC’s net profit surged 277% to $855m in 2010 from $227m in 2009. Overall revenue grew 7% to $10.6bn from $9.8bn.

The 2010 result was helped by a $204m tax credit, compared with a $21m credit in 2009, and a $306mprofit from discontinued operations, compared with a $290m loss in 2009.