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Marsh & McLennan Companies Q3 revenues up

Marsh & McLennan Companies (MMC) has reported total revenues of $2.5bn for the third quarter of 2010, compared to $2.3bn for the same quarter of 2009.

For the third quarter of 2010, net income was $168m, or $0.30 per share, compared with $221m, or $0.41 per share, in the prior year.

Risk and Insurance Services segment revenue in the third quarter of 2010 was $1.3bn, an increase of 8% from the third quarter of 2009.

For the nine months ended 30 September 2010 net income was $652m, or $1.18 per share, compared with $204m, or $0.38 per share, in the prior year.

Revenue for the first nine months of 2010 was $7.76bn compared to $7.26bn a year ago.

Marsh & McLennan president and CEO Brian Duperreault said, the company is pleased with the progress our company has made, not only in the third quarter but throughout the year.

In the quarter, all four of our operating companies produced strong underlying revenue growth, the first time this has occurred since 2007.

Looking ahead, our plan is to produce long-term growth in revenue and earnings, maintain low capital requirements, generate high levels of cash, and reduce the company’s risk profile,” Duperreault said.