Posted on 03 Aug 2011
Marsh & McLennan Co.'s second-quarter profit jumped 19% as the company benefited from better-than-expected revenue and continued strength in its risk and insurance unit.
One of the world's largest insurance brokers, Marsh & McLennan has steadily posted stronger revenue in recent quarters, helped by its insurance and consulting businesses as well as a series of acquisitions.
The company posted a profit of $282 million, or 50 cents a share, up from $236 million, or 43 cents a share, a year earlier. Excluding items such as restructuring charges, earnings were 50 cents versus 46 cents a year earlier.
Revenue jumped 12% to $2.93 billion. Analysts polled by Thomson Reuters expected a per-share earnings of 48 cents on $2.82 billion in total revenue.
Revenue at the risk and insurance division, the company's largest segment, climbed 11% due in part to strong international operations. Revenue in the smaller consulting segment was up 13%.