Brian Duperreault, president and chief executive officer of Marsh & McLennan told financial analysts during a conference call that the revenue growth at Marsh was attributed to strong retention rates and growth in new business.

Reinsurance broker Guy Carpenter continued its contribution to revenue growth as it has over the past three years, he notes. The firm’s consulting segment also was on the plus side.

“Throughout Marsh & McLennan Companies, we have seen revenue increases and higher levels of profitability,” says Duperreault.

Over the past four quarters, the company has produced revenue growth of 5 percent, he notes, adding that each of the operating companies contributed to the result.

The company’s aim is to produce organic growth while controlling expenses, a formula Duperreault believes will generate 10 percent organic growth in adjusted operating income “over the long term.”

He says the firm is achieving this goal, noting the company has seen organic growth in adjusted operating income over the past four quarters of 13 percent.

For the first nine months of this year, net income increased 13 percent, or $85 million, to $737 million. Earnings per share rose 15 cents to $1.33. Revenues rose 11 percent, or $853 million, to $8.6 billion.

In response to a question concerning insurance-rate development, Peter Zaffino, president and CEO of Marsh, says most rates have been flat to slightly down over last year.

There is increased attention to underwriting discipline as carriers are examining each risk and determining the need for rate on an individual basis, he says.

Overall, Zaffino says, there is no discernable trend in insurers’ underwriting terms and conditions or in the overall rate environment.

Concerning Marsh & McLennan Agencies, Zaffino says the firm is “very comfortable where we are” in the growth of that business with around $300 million in revenue. He says the acquisition pipeline “remains strong” and there is no time line for additional acquisitions, but notes the business is “underweight” in middle market accounts. He adds that the firm believes Marsh & McLennan Agencies will be accretive to the firm’s earnings in the near future.