CREDITING HIGH retention rates and strong new-business growth, Marsh & McLennan Cos. reports its first-quarter net income grew by 7 percent from the same period last year.

The New York-based services company reports net income increased $22 million to $347 million. Revenues rose 6 percent, or $167 million, to $3.05 billion.

Revenues at brokerage-unit Marsh rose 8 percent, or $97 million, to $1.4 billion with organic growth of 7 percent. Guy Carpenter revenues were up 5 percent, or $17 million, to $357 million. Organic growth also rose 7 percent.

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