Marsh & McLennan, the world's largest insurance broker, has sustained a $676m (€511m) fourth-quarter net loss following a $850m settlement with New York attorney general Eliot Spitzer over bid-rigging charges.

The firm, which is the parent of Putnam Investments and Mercer, said  a further 2,500 jobs could go across the group on top of the 3,000 cuts from the 60,000 world-wide workforce announced last November.

Marsh suffers $676m loss following Spitzer settlement

Jason Corcoran

American International Group

Marsh & McLennan

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