Marsh & McLennan posts loss on impairment charge

[August 05, 2009]  NEW YORK (AP) -- Marsh & McLennan says it lost money in the second quarter because of an impairment charge tied to the value of one its divisions.

The New York-based insurance broker and consulting firm says it lost $193 million, or 37 cents per share. A year ago, it earned $65 million, or 12 cents per share.

Excluding the $315 million goodwill charge for its corporate security business, Kroll, and other special charges, Marsh & McLennan earned 33 cents per share.

Analysts forecast earnings of 32 cents per share on revenue of $2.76 billion. Analysts do not typically include special charges in their estimates.

Marsh & McLennan's revenue fell 13 percent to $2.63 billion.

[Associated Press]

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