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Marsh & McLennan reports mixed second-quarter results


Marsh & McLennan Cos. Inc. reported higher revenue but lower profit in the second quarter of the year, following completion of its $5.6 billion acquisition of Jardine Lloyd Thompson Group PLC, Business Insurance reported. The New York-based brokerage, whose subsidiaries have operations in Greater Des Moines, posted consolidated revenue in the second quarter of $4.35 billion, a 16.5% increase over the same period last year, while underlying revenue grew 4% compared with a year ago, the company said in its second-quarter earnings report Tuesday. The lower earnings fulfilled projections of near-term growth challenges, particularly in its reinsurance segment, the company said. Net income attributable to the company was $332 million, or 65 cents per diluted share, compared with $1.04 in the second quarter of 2018. 

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