Beleaguered insurer Marsh & McLennan (MMC) told investors yesterday it had enough cash to pay out dividends in the fourth quarter in an attempt to quash fears about its financial stability.
Since MMC's brokerage arm Marsh has come under scrutiny from the New York attorney general Eliot Spitzer its share price has been in steady decline.
Moves to reassure investors about the extent of its liquidity came from the company's chief financial officer Sandra Wijnberg.
Wijnberg was reported to have said: “Our starting point is one of significant strength. We have been working to make sure we find ways of streamlining our costs structure.”
