Marsh & McLennan Cos. Inc. (MMC) today announced better than expected fourth-quarter results.

The No. 2 global insurance broker, which has operations in Urbandale, reported a net income from continuing operations of 37 cents per share, which is 5 cents better than analysts had forecast, according to Reuters estimates.

However, when including discontinued operations, fourth-quarter net income was $80 million, or 15 cents per share, down from $85 million, or 16 cents per share, a year earlier. Revenues for Marsh Inc. also were down 5 percent to $1.1 billion, but revenues for North America rose 1 percent.

Additionally, the company’s total expenses declined 7 percent in the fourth quarter to $2.56 billion.

The company cut about 1,900 jobs in 2008 and outsourced approximately 700. The restructuring was expected to generate an annual savings of $200 million; however, the company expects to make more cuts this year.

CEO Brian Duperreault, who joined the company about a year ago, said that he saw “restoring MMC to a pre-eminent position as a multi-year process,” and said he expects the company to increase its profits in 2009.

For full year 2008, MMC lost $73 million, or 14 cents per share, compared with a profit of $2.48 billion, or $4.53 per share, in 2007. At 9:30 a.m. Iowa time, the company’s stock was trading at $21.50 on the New York Stock Exchange, up $2.79.