"Our performance is all the more impressive in light of the substantial challenges presented by the global recessions," said Mr. Duperreault.

Despite signs of economic improvement, he said "economic weakness affects our operating segments."

Sagging insurance rates, in their seventh year of decline, also affected earnings, he said, adding that there was no sign of those market conditions changing anytime soon.

He credited the company segment managers with successfully navigating a difficult market environment to help produce the results.

At Marsh, capturing new business, high retention rates and controlling expenses helped it record an 8 percent increase in revenues, or $90 million, to $1.17 billion. Revenues at Guy Carpenter rose 12 percent, or $34 million, to $315 million.

Organic growth came in flat at Marsh, while Guy Carpenter recorded a 1 percent increase in organic growth. Organic growth at the Risk and Insurance segment as a whole was flat.

MMC's consulting segment, which includes Mercer and Oliver Wyman Group, saw revenues increase 7 percent, or $72 million, to $1.16 billion. Organic growth grew 1 percent.

Risk consulting and technology, which consists primarily of Kroll, stood at negative 3 percent, or down $5 million, to $162 million from the same period last year.

Mr. Duperreault said that as Marsh improves it is turning more of its attention to growth. He said the broker has made seven acquisitions in the past six months, the largest being HSBC Insurance brokers that closed in April, which he called a strong fit for the firm.

The merger, he said, strengthens Marsh's presence in the United Kingdom, Hong Kong, Singapore, China, and the Middle East, adding $200 million in annualized revenue to the firm.

Five of the seven acquisitions were for Marsh & McLennan Agencies. Mr. Duperreault noted that the acquisition strategy for that segment involves acquiring a total of 10 hub agencies around the United States.

Guy Carpenter reported revenue growth despite current economic conditions. Like Marsh, the reinsurance broker was able to capture new business and had high business retention rates and a disciplined approach to expense management.

Underscoring the performance of its brokerage arm, Daniel S. Glaser, chairman and chief executive officer of Marsh, said new business in Canada and United States was up 14 percent and international was up 2 percent, for a total increase of 7 percent, or $221 million of new business in the quarter.

"We are certainly winning in the marketplace," said Mr. Glaser.

In the area of broker compensation disclosure, Mr. Glaser said the firm is committed to transparency, and while compensation arrangements are not the same throughout the world, he repeated that the firm will not accept contingent commissions on core, United States business.

Mr. Glaser explained that the reason Marsh has decided to do this is because clients that indicated that they preferred the broker did not accept contingent commissions on their business. He added that the firm is confident it can "be fairly compensated in that segment."