Marsh McLennan Garners $3.5b in Q3 Insurance Revenue

Marsh McLennan’s Q3 2024 net income grew 2.3% YoY to $747 million, and 9M 2024 net income climbed 9% YoY to $3.3 billion. In Q3 2024, the company had a consolidated revenue of $5.7 billion, up 6% from Q3 2023, with underlying revenue up 5%. Earnings per share (EPS) rose 3% to $1.51, and adjusted EPS grew 4% to $1.63, though the prior year’s adjusted EPS had a 10 – cent tax benefit.

The Risk & Insurance Services segment had a Q3 2024 revenue of $3.5 billion, up 8% (6% underlying). Operating income grew 15% to $733 million, and adjusted operating income rose 16% to $775 million. In the first nine months, this segment’s revenue was $11.7 billion, up 9% (8% underlying). Marsh within this segment had a Q3 2024 revenue of $2.9 billion, up 9% (7% underlying). In the U.S. and Canada, underlying revenue rose 6%, and international operations grew 7%, driven by increases in various regions. Marsh’s 9 – month underlying revenue growth was 7%. Guy Carpenter in this segment had a Q3 2024 revenue of $381 million, up 6% (7% underlying), with 8% underlying revenue growth in the first nine months.

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