Broking giant Marsh has revealed its quarterly profit rose by 9% on the back of higher premiums.

The broker reported a 10% surge in its overall revenue, on the back of gains in its risk and insurance operations. Its risk and insurance services revenues rose by 17% to $1.7bn (£1.06bn) in the second quarter.

Meanwhile, its second-quarter net profit climbed to $365m (£228m) from $336m (£210m).

Jonathan Balkind, an analyst at Fox-Pitt Kelton, said: "The quarter was very solid with a combination of revenue and expense improvement in the insurance operation, and probably slightly better-than-expected results at Putnam."

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