New York-based Marsh & McLennan Cos. Inc. seems to be weathering the financial storm better than most.
Yet, the insurance brokerage reported fourth quarter revenue of $2.7 billion, a 9% decline from the same quarter in 2007. Net income also ebbed slightly $80 million, or $.15 per share, compared with net income of $85 million, or $.16 per share last year.
According to the company, the leading contributor to the dip in revenues was a significant decline in consulting fees. However, overall, the results were better than expected than the consensus of financial analysts tracking the company and Marsh shares were trading up on the news.
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