Tax charge causes profits to tumble at Marsh & McLennan in 2017
Broker posts increase in revenue.
Marsh & McLennan has revealed a 16% fall in profit for 2017 to $1.49bn (£1.05bn).
In the final quarter of the year profits were close to zero at $29m compared to $436m in the same period of 2016.
The firm flagged that it had been hit for $460m due to US tax reforms as well as a pension charge.
Revenue across the broking giant grew by 6% to $14.02bn for the full year.
Marsh
The breakdown by areas of business showed that within the risk and insurance services division, Marsh achieved revenue
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