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Marsh & McLennan Q4 net income shoots up

Marsh & McLennan Companies has reported a net income of $203m, or $0.37 per share for the fourth quarter of 2010, compared to $23m, or $0.04 per share, for the same quarter of 2009.

Adjusted operating income in the fourth quarter rose 22 percent to $379 million compared with prior year.

Net income for the year 2010 was $855m, or $1.55 earnings per share, compared to $227m, or $0.42 for the year 2009

Total revenue for the fourth quarter of 2010 was $2.79bn, compared to $2.56bn in the prior-year quarter.

Risk and insurance services segment revenue increased 11% to $1.5bn in the fourth quarter of 2010, or 5% on an underlying basis.

Marsh’s revenue in the fourth quarter of 2010 was $1.3 billion, an increase of 12 percent, or 6 percent on an underlying basis.

Guy Carpenter’s fourth quarter 2010 revenue increased 2% to $184m, or 3% on an underlying basis.

Consulting segment revenue increased 6% to $1.3bn in the fourth quarter of 2010, or 6%on an underlying basis.

Mercer’s revenue increased 6% to $910m in the fourth quarter of 2010, an increase of 5% on an underlying basis.