GOOD NEWS FOR MARSH

Marsh & McLennan Companies (MMC) reported strong revenues and earnings for both the quarter and nine months that ended Sept. 30. For the quarter, MMC’s revenues rose 14 percent to $2.5 billion from $2.2 billion in 1999. Net income grew 26 percent to $282 million from $223 million, and earnings per share rose 20 percent. For the nine months, MMC’s revenues reached $7.7 billion, a 13 percent increase from $6.8 billion in 1999. Net income increased 22 percent to $895 million and earnings per share grew 17 percent to $3.12, compared with $731 million and $2.66 respectively in 1999. MMC revenues rose 7 percent in the third quarter to $1.1 billion, driven by net new business. Operating income increased 21 percent to $200 million, reflecting continued savings from consolidation associated with the integration of Sedgwick.