For the nine months ended September 30, 2018, consolidated revenue was USD 11.23 billion vs. USD 10.33 billion, while the nine-months operating income totaled USD 2.14 billion vs. USD 1.98 billion.
Q3 2018 revenue for the Risk and Insurance Services totaled USD 1.86 billion (vs. USD 1.76 billion), while the operating was USD 293 million, an increase of 9%. In the analyzed period, MARSH insurance broker's revenue reached USD 1.63 billion (vs. USD 1.48 billion), while the reinsurance broker GUY CARPENTER's revenue was of USD 215 million (vs. USD 270 million).
Total revenue for the Consulting sector, which includes MERCER and OLIVER WYMAN Group, was USD 1.65 billion (vs. USD 1.53 billion), while the operating was USD 291 million. MERCER's revenue was USD 1.17 billion, while OLIVER WYMAN Group's revenue was USD 481million.
"We are pleased with our performance for the third quarter and first nine months of the year. In the quarter, we produced excellent underlying revenue growth of 5% in both Risk & Insurance Services and Consulting, and adjusted EPS growth of 8% excluding the impact of the new revenue standard.," said Dan GLASER, President and CEO.
On September 18, 2018, MMC announced an agreement to acquire Jardine Lloyd Thompson Group (JLT), a leading provider of insurance, reinsurance and employee benefits related advice, brokerage and associated services. JLT is based in London and has offices in over 40 countries including in key emerging markets across Asia and Latin America.
The transaction is expected to close in spring of 2019, subject to receipt of required antitrust and regulatory approvals and the approval of JLT shareholders.
"The highlight of the quarter was our agreement to acquire Jardine Lloyd Thompson Group. JLT is a premier organization in our industry that we have admired for a long time. The combination of Marsh & McLennan and JLT will create innovative solutions for our clients, career opportunities for our colleagues, and value for our shareholders," concluded Dan GLASER.
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