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.
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