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Originally published Tuesday, May 4, 2010 at 5:46 AM

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Marsh & McLennan 1Q profit jumps 41 percent

Marsh & McLennan Cos. Inc. said Tuesday its first-quarter earnings jumped 41 percent as profitability improved in its consulting business.

The Associated Press

NEW YORK —

Marsh & McLennan Cos. Inc. said Tuesday its first-quarter earnings jumped 41 percent as profitability improved in its consulting business.

The insurance broker and consulting company said it earned $248 million, or 45 cents per share, for the three months ended March 31, from $176 million, or 33 cents per share, a year ago.

Excluding one-time costs, Marsh & McLennan earned 51 cents per share, which was in line with analysts' expectations.

Revenue rose to $2.8 billion from $2.6 billion a year ago. Analysts expected revenue of $2.69 billion.

Its revenue was boosted by growth in the consulting division, which includes Mercer and Oliver Wyman Group.

Its shares lost 60 cents, or 2.4 percent, to close at $23.97 Tuesday, falling with the broader market.

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