Two former Marsh executives have been found guilty on an anti-trust charge for participating in an insurance bid-rigging scheme.

William Gilman and Edward J McNenney were acquitted of all other charges, including fraud and grand larceny.

The ruling, handed down by a New York State Supreme Court judge, is just one of a number of cases in a sweeping investigation of anti-competitive practices in the insurance industry.

Eight former Marsh executives were indicted in September 2005 and the 10-month bench trial is the first trial in the case.

Mr Gilman and Mr McNenney face possible jail terms of up to four years when they appear for sentencing next month.

Marsh & McLennan itself is not facing charges. The broking group paid $US850 million ($900 million) to settle then New York Attorney-General Eliot Spitzer's investigation into contingent commissions three years ago.