Profit boost for US giant Marsh & McLennan

US INSURANCE broking giant Marsh & McLennan posted a 31 per cent rise in profits over the first three months of this year.

The world’s second-largest insurance brokerage saw its first-quarter net income hit $325m (£196m), compared with $248m a year earlier.

Revenues for the firm rose nine per cent to $2.8bn. Revenue at Marsh, its main insurance business, was $1.3bn.

“Marsh’s revenue growth was across all geographies, driven by continued high levels of new business development and client retention,” chief executive Brian Duperreault said.