Growth for Marsh
Marsh has posted underlying revenue growth of 1% to $1.23bn (£0.63bn) in the first quarter this year. The broker grew underlying revenues in its Europe, the Middle East and Africa division by 3% to $588m (£299.7m). Around half of this business is transacted in the UK. Despite the improvement, Marsh’s parent company MMC’s posted a net loss of $210m (£107m), driven by a $425m (£216.6m) goodwill write-down of security subsidiary Kroll.
Record profits for Swinton
Swinton has announced record profits in its seventh consecutive year of growth. The broker saw its profits rise 27% to £48.3m to the 12 months ended 31 December 2007.