Insurance broker Marsh & McLennan Cos Inc (MMC.N) posted higher-than-expected second-quarter profit and said the current economic uncertainty could provide it with opportunities to look at low-risk acquisitions in its consulting segment. The company's shares rose nearly 3 percent in morning trade on a day when broader markets were sharply lower. MMC's consulting segment, which contributes almost half of company revenue, has seen growth despite the uncertain economy. "The environment has afforded us an opportunity to do some tuck-in acquisitions," Michele Burns, chief executive of Mercer, MMC's biggest consulting arm, said on a call with analysts.
Marsh & McLennan Companies, Inc. is a global professional services firm providing advice and solutions in the areas of risk, strategy and human capital. Shares of MMC traded higher by 2.88% or $0.82/share to $29.31. In the past year, the shares have traded as low as $22.85 and as high as $31.57. On average, 3170700 shares of MMC exchange hands on a given day and today's volume is recorded at 2834923.
