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Article: Marsh & McLennan 3Q profit beats expectations
- Article from:
- AP Online
- Article date:
- November 4, 2009
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Marsh & McLennan Cos. said Wednesday it returned to profitability in the third quarter amid improving earnings in its risk and insurance services division and a decline in expenses.
Just as it did in the second quarter, the New York-based insurance broker and consulting firm was able to slash costs faster than its revenue declined during the quarter, helping it to post a better-than-expected profit.
Ongoing weakness in the global economy continued to hurt Marsh & McLennan's consulting and risk consulting and technology divisions.
Marsh & McLennan earned $221 million, or 41 cents per share, during the quarter ended Sept. 30. It lost $8 million, or 2 cents ...