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Marsh posts 4% organic growth

Marsh & McLennan Companies has joined its fellow brokers in reporting strong Q1 results after reporting 4 percent organic growth.

The broker’s first quarter earnings were up 19 percent over Q1 of 2012 led by its risk-and-insurance division.

Marsh reported a profit of $413 million, or 74 cents a share, up from $347 million, or 63 cents a share, a year earlier. Excluding restructuring-related charges and other items, adjusted earnings improved to 73 cents from 63 cents a share. Revenue climbed 2.5 percent to $3.13 billion.

The company surpassed analysts’ expectations by reporting adjusted earnings of $0.73 per share against a Wall Street consensus of 69 cents a share on revenue of $3.18 billion.

Operating margin widened to 19.4 percent from 17.3 percent.

Revenue at the risk-and-insurance division, the company's largest segment, which includes Marsh’s direct broking operations and its reinsurance arm, Guy Carpenter, rose 4.9% to $1.77 billion, while operating income jumped 14 percent to $468 million. Revenue in the smaller consulting segment slipped 0.7 percent to $1.36 billion, while operating income increased 14% to $187 million.

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Published May 02, 2013 at 2:01 pm (Updated May 02, 2013 at 2:00 pm)

Marsh posts 4% organic growth

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