Marsh & McLennan Q4 earnings lifted by insurance operations
22.05.12
Insurance and consulting group Marsh & McLennan Cos. ( NYSE:MMC ) Tuesday said fourth-quarter earnings rose 26 percent as its insurance brokerage booked stronger margins and revenue across its business lines.
For the quarter that ended December 31, net income was $256 million, up from $203 million a year earlier. Earnings per share increased to $0.46 from $0.37.
Adjusted earnings came in at $0.46, an increase of 12 percent from $0.41 in the fourth quarter of 2010.
Revenues for the quarter rose to $2.91 billion from $2.79 billion in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.45 per share on revenues of $2.96 billion.
Marsh & McLennan's president and CEO Brian Duperreault said: "We are very pleased with our company's performance, both for the fourth quarter, and for the entire year.
"For the second consecutive year, we achieved double-digit growth in adjusted operating income. This growth was broad-based, with both our Risk and Insurance Services and Consulting segments generating double-digit growth in adjusted operating income.
Source: Proactive Investors USA & Canada