Marsh & McLennan revenues up 32%

NEW YORK - Marsh & McLennan Companies Inc (MMC) yesterday reported that revenue for the first quarter of 1999 increased 32% on the same period in 1998 to $2.4bn, reflecting the first full quarter inclusion of the Sedgwick Group whose acquisition was completed in November 1998. Net income rose 21% to $279m and earnings per share rose 18% to $1.03. Looking at the risk and insurance services' side, MMC chairman, AJC Smith, said its solid results included revenue growth of 44%, primarily due to acquisitions.