Marsh & McLennan earnings fall on unit write-down
NEW YORK (Reuters) - Marsh & McLennan Cos Inc(MMC.N), the largest global insurance brokerage, posted a drop in second-quarter earnings on Wednesday, hurt by a $115 million write-down of goodwill for its risk consulting and technology division.
Net income fell 63 percent to $65 million, or 13 cents a share, from $177 million, or 31 cents a share, a year earlier.
The goodwill charge shaved 22 cents off earnings per share, the New York-based company said.
On an adjusted basis, operating earnings rose 17 percent to 41 cents per share.
Marsh & McLennan, which helps companies find commercial insurance coverage, said consolidated revenue rose 9 percent to $3.05 billion, higher than analysts' average expectation of $2.94 billion, according to Reuters Estimates.
(Reporting by Lilla Zuill; Editing by Gerald E. McCormick and Lisa Von Ahn)
