MMC results hit by $205mn settlement costs and economic headwinds
2009 was a good year for Marsh & McLennan Companies (MMC) but the economic travails and a legacy from the dark Spitzer days overshadowed the group's full-year results.
In November, the group announced a $435mn settlement with two class actions filed in 2004 when the former New York Attorney General's investigations into the firm were in full swing. The broking group said that the settlements - which were carried out with no admission of liability - cost it $205mn after...
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