By Rob Curran


Marsh & McLennan Cos. posted a 42% drop in fourth-quarter earnings as revenue declined at its commercial-insurance operations and its Mercer consultancy.

The New York insurance brokerage and consulting firm logged fourth-quarter earnings of $466 million, or 93 cents a share, down from $803 million, or $1.57 a share, a year earlier. Excluding certain items, Marsh & McLennan posted fourth-quarter earnings of $1.47 a share.

Fourth-quarter revenue slipped 2%, to $5.02 billion.

The firm's Risk & Insurance Services unit revenue fell 3%, to $2.9 billion, with the bulk of that generated by its Marsh insurance brokerage.

Consulting revenue was $2.1 billion, down 2.4% from a year earlier, with the Mercer brand generating $1.3 billion, a drop of 3% from a year earlier. Revenue at Oliver Wyman rose 6%, to $765 million.

Shares of Marsh & McLennan ticked up in premarket trading.


Write to Rob Curran at rob.curran@wsj.com


Corrections & Amplifications

This article was corrected at 08:43 a.m. ET because the original misreported the changes in revenue for the consulting and Olivery Wyman units. Marsh & McLennan Cos. said fourth-quarter consulting revenue was $2.1 billion, down 2.4% from a year earlier. Revenue at Oliver Wyman rose 6% to $765 million.

(END) Dow Jones Newswires

01-26-23 0741ET