Marsh & McLennan's first-quarter profit beats on higher fiduciary interest income [Reuters]
The Travelers Companies, Inc. (TRV)
Last the travelers companies, inc. earnings: 4/21 06:57 am
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Source: Reuters
By Reuters April 18 (Reuters) - Marsh & McLennan (MMC.N) New Tab , opens new tab reported a better-than-expected quarterly profit on Thursday, helped by an increase in interest income the insurance brokerage earned from funds held on behalf of clients. The company's shares rose about 2% to $201 before the bell. The U.S. Federal Reserve's higher-for-longer interest rate environment has helped such companies rake in higher income on funds they hold in a fiduciary capacity, that is, on behalf of clients. Marsh & McLennan's fiduciary interest income rose 34% to $122 million in the first quarter New Tab , opens new tab The New York-based company's revenue streams are diversified across insurance brokerage, consulting, reinsurance brokerage, talent management and investment management services. Revenue from the company's risk and insurance services business rose 9% to $4.27 billion in the first quarter. The unit accounts for most of Marsh & McLennan's revenue. Report th
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TRV
Earnings
- 4/17/24 - Miss
TRV
Sec Filings
- 4/26/24 - Form 4
- 4/25/24 - Form 144
- 4/24/24 - Form 4
- TRV's page on the SEC website