Marsh & McLennan Cos. Inc. reported a nearly 20% jump in revenue in the second quarter as economies continued to reopen after going into lockdown ahead of the comparable reporting period last year.
The world’s largest brokerage also added about 2,000 staff in the first half, which included a significant increase in its rate of hiring from rivals Aon PLC and Willis Towers Watson PLC since those companies announced merger plans last year, Marsh McLennan’s senior executive said.
Its insurance and reinsurance broking units continued to benefit from higher insurance pricing pushing up commissions and fees, but price increases are moderating, Dan Glaser, president and CEO of Marsh McLennan, said in a conference call with analysts Thursday.
Key concerns for Marsh McLennan clients include the effect of climate change and cyber risk, he said, as cyberattacks accelerate. Marsh McLennan itself was hit by a cyber breach in April.