Segment Information

3 Months Ended

Mar. 31, 2012

Segment Information [Abstract]

Segment Information

Segment Information

The Company is organized based on the types of services provided. Under this organizational structure, the Company’s business segments are:

▪ Risk and Insurance Services, comprising insurance services (Marsh) and reinsurance services (Guy Carpenter); and

▪ Consulting, comprising Mercer and Oliver Wyman Group

The accounting policies of the segments are the same as those used for the consolidated financial statements described in Note 1 to the Company’s 2011 10-K. Segment performance is evaluated based on segment operating income, which includes directly related expenses, and charges or credits related to integration and restructuring but not the Company’s corporate-level expenses. Revenues are attributed to geographic areas on the basis of where the services are performed.

Selected information about the Company’s operating segments for the three-month periods ended March 31, 2012 and 2011 are as follows:

For the Three Months Ended March 31, (In millions of dollars)	Revenue				Operating Income (Loss)
2012 –
Risk and Insurance Services	$	1,747		(a)	$	417
Consulting	1,313			(b)	159
Total Operating Segments	3,060				576
Corporate / Eliminations	(9		)		(49		)
Total Consolidated	$	3,051			$	527
2011–
Risk and Insurance Services	$	1,634		(a)	$	383
Consulting	1,261			(b)	128
Total Operating Segments	2,895				511
Corporate / Eliminations	(11		)		(39		)
Total Consolidated	$	2,884			$	472

^(a)  Includes inter-segment revenue of $1 million in both 2012 and 2011, interest income on fiduciary funds of $11 million and $12 million in 2012 and 2011, respectively, and equity method income of $1 million and $2 million in 2012 and 2011, respectively.

^(b)  Includes inter-segment revenue of $8 million and $10 million in 2012 and 2011, respectively, and interest income on fiduciary funds of $1 million in both 2012 and 2011.

Details of operating segment revenue for the three-month periods ended March 31, 2012 and 2011 are as follows:

For the Three Months Ended March 31,
(In millions of dollars)	2012			2011
Risk and Insurance Services
Marsh	$	1,388		$	1,292
Guy Carpenter	359			342
Total Risk and Insurance Services	1,747			1,634
Consulting
Mercer	957			922
Oliver Wyman Group	356			339
Total Consulting	1,313			1,261
Total Operating Segments	3,060			2,895
Corporate/ Eliminations	(9		)	(11		)
Total	$	3,051		$	2,884