MMC posts Q3 profit on cost cuts
04 November 2009
Marsh & McLennan Companies said Wednesday it swung to a better-than-expected third-quarter profit amid expense cuts and margin improvement in its risk and insurance services division.
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Marsh & McLennan Companies said Wednesday it swung to a better-than-expected third-quarter profit amid expense cuts and margin improvement in its risk and insurance services division.
Profit for the quarter was $221m, compared with a loss of $8m in 2008. But revenues at the New-York based insurance broker were hit by the soft insurance market and weak economic environment.
Third-quarter revenue was $2.5bn,...
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