Consolidated revenue for the group in Q2 2021 was US$5.0 billion (around SG$6.80 billion), a 20{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} rise compared with Q2 2020. On an underlying basis, revenue increased 13{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f}. Meanwhile, operating income was US$1.2 billion, an increase of 39{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} from the prior year. Adjusted operating income rose 24{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} to US$1.2 billion.
Net income attributable to the company was US$820 million, or US$1.60 per diluted share, compared with US$1.12 in Q2 2020, while adjusted earnings per share rose 33{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} to US$1.75 per diluted share compared with US$1.32 for the prior year period.
For the six months ended June 30, 2021, consolidated revenue was US$10.1 billion, an increase of 14{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f}, or 9{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} on an underlying basis compared to the prior period. Operating income rose 32{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} to US$2.6 billion, from the prior year period. Adjusted operating income rose 22{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} to US$2.6 billion. Meanwhile, net income attributable to the company stood at US$1.8 billion.
Risk & insurance services
During Q2 2021, MMC’s risk and insurance revenue rose 21{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} (or 13{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} on an underlying business) from Q2 2020 to US$3.1 billion, while operating income rose 37{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} to US$950 million, and adjusted operating income to US$927 million, an increase of 22{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} from the prior year period.
For H1 2021, revenue was US$6.4 billion, an increase of 15{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f}, or 10{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} on an underlying basis, while operating income rose 30{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} to US$2.0 billion, and adjusted operating income was US$2.0 billion, an increase of 19{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} from H1 2020.
Marsh’s revenue in the second quarter was US$2.7 billion, an increase of 14{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} on an underlying basis. In US/Canada, underlying revenue rose 15{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f}, while international operations produced underlying revenue growth of 13{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f}, reflecting 16{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} growth in EMEA, 10{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} growth in Asia-Pacific, and 2{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} in Latin America.
Guy Carpenter’s revenue in Q2 2021 increased 12{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} on an underlying basis to US$488 million, and its H1 2021 revenue has grown 8{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} from the prior-year period.
Consulting
The group reported that its consulting revenue in the Q2 2021 quarter was US$1.9 billion, an increase of 17{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f}, or 12{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} on an underlying basis, compared to the same period a year ago. Its operating income increased 35{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} to US$344 million, while adjusted operating income increased 34{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} to US$356 million.
For the first six months of 2021, revenue totalled US$3.8 billion, an increase of 11{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f}, or 8{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} on an underlying basis. Operating income of US$705 million increased 31{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f}, and adjusted operating income increased 31{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} to US$726 million.
Mercer, meanwhile, saw revenue of US$1.3 billion in Q2 2021, an increase of 6{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} on an underlying basis. For H1 2021, ended June 30, 2021, Mercer’s revenue was US$2.6 billion, an increase of 3{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} on an underlying basis compared to the same period a year ago.
Oliver Wyman’s revenue was US$618 million in Q2 2021, an increase of 28{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} on an underlying basis. For the first six months ended June 30, 2021, Oliver Wyman’s revenue was US$1.2 billion, an increase of 19{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} on an underlying basis.
Adding to his comments above, Glaser noted that: “These results are a direct reflection of the hard work and dedication of our colleagues around the world. We look forward to carrying this momentum into the second half of the year.”
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