(Reuters) - New York-based Marsh & McLennan, the world's largest insurance broker, said on Tuesday that first-quarter profit dropped about 36 percent as revenues in its biggest unit fell short of expectations. For details, see [ID:nN08430265].
The company, which helps other firms find insurance for their businesses, also announced a stock buyback of $500 million, to be completed before the end of the second quarter, with funding drawn from a $3.9 billion sale of the company's asset-management unit Putnam Investments.
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