Losses for Marsh & McLennan and GLG

Marsh & McLennan Cos. posted a loss of $210 million in thefirst quarter of 2008, $268 million a year ago.
MAY 07, 2008
Marsh & McLennan Cos. posted a loss of $210 million, $0.40 per share over the first quarter of 2008, compared with earnings of $268 million or $0.47 per share over the first quarter of 2007. The loss, attributed mainly to a $425 million write-down, was cited as a reason for the investment bank selling off portions of their securities unit, Kroll Inc. of New York The New York-based insurance brokerage has already rejected one offer to buy the ailing securities unit, after splitting Kroll off into a separate business in March. GLG Partners Inc. of New York declared losses of $222.2 million, or $1.07 per share for the first quarter 2008. Last year, first quarter earnings for the company totaled $14 million, a bump of $0.07 per share.

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