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Marsh & McLennan insurance broker beats profit predictions
THE PARENT company of insurance broker Marsh yesterday beat expectations to announce an improved fourth-quarter profit.
Net income at Marsh & McLennan, the professional services group that includes the world’s second-largest insurance broker, rose to $256m (£163m), compared with $203m a year ago.
Total revenue rose four per cent to $2.9bn.
Most of the increased profit was a result of improved income from the firm’s core business.
Quarterly revenue at Marsh, the group’s main insurance business, grew six per cent to $1.37bn.
Income from consulting – which includes the Mercer and Oliver Wyman businesses – was up three per cent to $1.3bn.