Marsh & McLennan’s profits up two percent
(Reuters) — Marsh & McLennan Co Inc's fourth-quarter profit rose two percent, helped by growth in its core insurance business.The insurance broker reported a profit of $259 million, or 47 cents per share, up from $256 million, or 46 cents per share, a year earlier.Fourth-quarter income from continuing operations rose 8.6 percent to $265 million, or 48 cents per share.On an adjusted basis, the company earned 52 cents per share.Total revenue at the company, which provides management consulting, human resource consulting, outsourcing, and risk and reinsurance intermediary services, rose three percent to $3 billion.Analysts on average expected the company to earn 52 cents per share on revenue of $3 billion, according to Thomson Reuters I/B/E/S.Revenue at Marsh, the company's main insurance business, grew four percent to $1.42 billion, while revenue from consulting increased three percent to $1.38 billion.The company, which has a market capitalisation of $19.89 billion, competes with Aon Plc in negotiating insurance and reinsurance policies for corporate clients.Earlier this month, Aon posted a profit above market expectations as margin pressures eased at its human resource business.