NU Online News Service, May 6, 2:10 p.m. EDT

Marsh & McLennan Companies Inc., the parent company of insurance broker Marsh and reinsurance broker Guy Carpenter, reported net income of $176 million, despite a 13 percent drop in revenues compared to last year.

The New York-based services firm reported net income in the first quarter rose from net loss of $210 million, or negative 40 cents a share last year, to net income of $176 million, or 33 cents a share. Revenues dropped $410 million, from $3.04 billion to $2.63 billion.

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