The New York insurance brokerage Marsh & McLennan Cos. Inc. announced Wednesday that its third-quarter earnings rose 156.5% from a year earlier, to $176 million.
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Excluding one-off items, the broker had earnings of 38 cents a share, beating analysts' average estimate by 3 cents, according to Thomson First Call.
Marsh & McLennan has struggled since being accused of bid rigging and price fixing by New York State Attorney General Eliot Spitzer in 2004. Its stock was trading at more than $46 before Mr. Spitzer's investigation and has fallen to a range of $24 to $33.42.
It has been rumored Marsh is considering an outright sale or a sale of Putnam Investments, its mutual fund subsidiary.
