UPDATE 1-Marsh & McLennan quarterly profit rises 2 pct
* Fourth-quarter adj earnings $0.52/share, in line with estimates
* Total revenue rises 3 pct to $3 bln
* Revenue at core insurance segment rises 4 pct
Feb 12 (Reuters) - Marsh & McLennan Co Inc's fourth-quarter profit rose 2 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 3 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 4 percent to $1.42 billion, while revenue from consulting increased 3 percent to $1.38 billion.
The company, which has a market capitalization 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.
Shares of Marsh & McLennan, which have risen 4 percent since it reported third-quarter results in November, closed at $36.35 on Monday on the New York Stock Exchange.
- Putin dissolves state news agency, tightens grip on Russia media
- North Korea says Kim's powerful uncle dismissed for 'criminal acts'
- Thai PM calls snap election, protesters want power now |
- Record cold, ice grip U.S.; more snow to blanket East
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'