Marsh & McLennan Posts Stronger-Than-Expected Results

By Ezequiel Minaya 

Professional-services firm Marsh & McLennan Cos. on Thursday reported stronger-than-expected results for its first quarter, as the company posted revenue increases in its consulting and risk and insurance business.

Marsh & McLennan is the parent of a number of companies, including the insurance-brokerage Marsh and consulting firm Mercer.

In all, its quarterly profit slipped to $481 million, or 91 cents a share, from $482 million, or 88 cents a share, a year earlier. Excluding certain items, earnings rose to 92 cents from 91 cents a year earlier.

Revenue rose 3.8% to $3.34 billion.

Analysts surveyed by Thomson Reuters expected earnings of 88 cents a share on $3.31 billion in revenue.

In the risk and insurance business, core revenue, which excludes the impact of currency and acquisitions, grew 2%, with strong growth in Latin America and the Asia Pacific region.

Consulting revenue grew 6% on a core basis, driven by 6% growth in its health business.

Write to Ezequiel Minaya at [e-mail]

(END) Dow Jones Newswires

April 28, 2016 08:35 ET (12:35 GMT)

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