If that number is stripped out then the three companies would have reported a more normal but still respectable combined revenue increase of 8.6%, with Marsh posting 12.1% up from $2.6bn last year to $2.9bn this year and Willis 8% from $799m last year to $863m.

The organic growth rates reported by Aon and Marsh were 1% and 3% respectively. Willis reported a 3% organic growth.

As a group, expenses rose by 16%, again driven by Aon’s acquisition that saw its numbers leap by 46% from $1.65bn to $2.4bn.

Marsh, however, reported an expense decrease by 7.4% from $2.7bn down to $2.5bn while Willis reported expenses up by 9.6% from $630m up to $706m.

The Hewitt acquisition boosted the combined profit number strongly as the three companies combined reported a 28% increase in net profit.

Aon managed a 68% increase from $153m up to $258m, Marsh 19% up from $236m to $282m while Willis reported a fall in profit of just over 2% down from $91m to $89m that was driven by an $18m restructuring charge and $11m fine from the UK FSA for corruption charges in emerging markets.

“We delivered solid organic revenue growth in our retail brokerage business while delivering on the synergy savings related to Aon Hewitt,” said Greg Case, President and Chief Executive Officer at Aon.

“While macro conditions remain challenging globally, we are firmly on track to deliver growth in 2011, our restructuring programmes are delivering cost savings and we have solid financial flexibility that will continue to drive increased shareholder value, as highlighted by the repurchase of $303m of common stock in the quarter,” he added.

Brian Duperreault, President and CEO of Marsh, commented: “Each of our four operating companies produced strong growth in revenue and profitability in the second quarter. In Risk and Insurance Services, Marsh’s underlying revenue grew across all geographies, reflecting increases in new business development and client revenue retention rates. Guy Carpenter [reinsurance] continued to produce impressive results, reporting its tenth consecutive quarter of underlying revenue growth.”

“Consulting produced strong underlying revenue growth as it has over the last year. Mercer continued to generate positive results, led by good underlying revenue growth in its consulting and investments businesses. Oliver Wyman achieved strong underlying revenue growth for the sixth consecutive quarter.”

Joe Plumeri, Chairman and Chief Executive Officer, Willis Group Holdings said: “We continued to deliver on our plan in the second quarter, recording much of the remaining charge associated with our 2011 operational review and focusing on the implementation of growth initiatives. The strength of our diversified global business was again shown by our solid 3% organic growth in commissions and fees even with continued global economic pressures and little change in the overall rate environment.”

Marsh’s Risk and Insurance Services revenue increased 11% to $1.6bn in the second quarter of 2011, or 5% up on an underlying basis. Operating income increased 38% to $356m, compared with $258m. For the first six months of 2011, segment revenue was $3.3bn, an increase of 10% from the prior year period, and 5% growth on an underlying basis.

Marsh’s EMEA risk and insurance business was up 12% quarter to quarter from $397m up to $445m while the total international business was up from $602m to $697m. The broker reported an increase in Asia Pacific business by 21% from $139m to $169m and Latin American business was up 25%. US and Canada business grew by 9% from $603m to $656m.

Aon’s Risk Solutions total revenue increased 9% to $1.7bn for the quarter compared with last year driven by a 6% favourable impact from foreign currency translation, 2% organic growth in commissions and fees, and a 1% favourable impact from acquisitions and divestitures. Its retail brokerage organic revenue increase of 3% reflected ‘solid’ organic revenue growth both in the Americas and international businesses, said Aon.

Its Americas organic revenue increased 3%, mainly driven by strong growth in Latin America and in affinity products. International organic revenue increased 3% driven by strong growth in Asia, New Zealand and Africa. Reinsurance organic revenue fell 2% mainly because of a fall in capital market transactions and advisory business that was partially offset by growth in global treaty placements.

The international business segment at Willis reported 21% growth in commissions and fees compared with the same period in 2010, but this included a 15% favourable impact from foreign currency movements.

Organic growth in commissions and fees was 6%, including ‘double-digit’ expansion in Latin America and Eastern Europe, while Asia grew ‘high single-digits’. Continental Europe and the UK and Ireland retail market each grew in the ‘low single-digits’, reported Marsh.

The operating margin for the international business at Willis was 21.5% compared with 19.1% in the second quarter of 2010. “The increase in operating margin was driven by strong growth in organic commissions and fees, together with favourable foreign currency movements, partially offset by higher incentive compensation,” explained Willis.

It would not be surprising therefore to find many European risk managers feeling quite pleased with these numbers as they do not suggest that the leading brokers will be charging about desperately trying to hike up rates to bolster stumbling revenues and profits. The perennial catch 22 that the brokers suffer from.

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