MMC announces Q3 results
Marsh & McLennan Companies, Inc. (MMC) has reported its financial results for Q3.
President and CEO Brian Duperreault has said that the firm enjoyed strong earnings in the quarter, particularly in the Risk and Insurance Services segment, with both Marsh and Guy Carpenter performing well.
Consolidated revenue was down 11% from Q3 2008, to $2.5bn, however the firm did make net income of $221m (equating to $0.41 per share) compared to a loss of $8m ($0.02 per share) suffered previously.
It is also significantly better than the Q2 loss of $193m the firm incurred earlier in the year.
In the first nine months of the year, MMC made net income of $204m ($0.38 per share), a return to the black after the first three quarters of 2008 when a loss of $153m ($0.30 per share) was incurred.
Duperreault also said that whilst the economic environment continued to be challenging, the firm’s good performance reflected recent management decisions, including cutting expenses substantially.
Category: Financials, Insurance News
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