Key facts
- Marsh reported a second-quarter profit of $1.27 billion, or $2.63 per share.
- This compares to $1.21 billion, or $2.45 per share, in the same period last year.
- Revenue in the risk and insurance services arm increased by 4% to $4.82 billion.
- The consulting arm experienced 10% revenue growth.
- Underlying revenue growth, a key metric for Wall Street, was 5% for the quarter.
Marsh reported a significant increase in its second-quarter profit, driven by strong demand for its risk management and consulting services. The company's risk and insurance services arm saw revenue climb 4% to $4.82 billion, while its consulting division experienced 10% revenue growth. Overall underlying revenue growth, a metric closely watched by Wall Street, stood at 5% for the quarter. Profit for the three months ended June 30 was $1.27 billion, or $2.63 per share, up from $1.21 billion, or $2.45 per share, in the prior year. CEO John Doyle noted that the company's performance underscores the strong demand for Marsh's expertise across various sectors. Insurance spending has remained resilient as businesses and individuals prioritize safeguarding against threats like climate disasters and cyber attacks.