M&M revenue rises 7% in 2Q

Marsh & McLennan Cos. Inc. said earnings per share remained unchanged at 31 cents compared to the year-ago period.
The New York-based insurance brokerage said revenue increased 7% to $2.82 billion, from $2.63 billion during the same period in 2006.
Revenue in the company’s main risk and insurance division rose 2% to $1.4 billion compared to the year-ago period, while revenue in the consulting business increased 16% to $1.2 billion.
Marsh, which recently closed its $3.9 billion sale of Putnam Investments to Montreal-based Power Financial Corp. (InvestmentNews, August 3), also said that its board approved a $1.5 billion share-repurchase program, with buybacks to begin “as soon as possible.”