Third quarter results for the world’s two biggest brokers, Marsh & McLennan and Aon, were a mixed bag this year, with Marsh & McLennan’s earnings more than doubling and Aon reporting a drop in net income.

Marsh & McLennan’s third quarter earnings of $US176 million ($228.7 million) were boosted by the cost-cutting efforts of CEO Michael Cherkasky – who has been in charge of restructuring the group after it was forced to change its practices and pay out large settlement costs for bid-rigging activities.

Aon reported lower net income in the third quarter as it added more than $US100 million ($129.9 million) to its property and casualty reserves. Net income for the group fell to $US106 million ($137.7 million) from $US122 million ($158.5 million) for the corresponding period last year.

But it wasn’t all bad news for Aon, with its third quarter revenue for risk and brokers services increasing 5% to $US1.3 billion ($1.68 billion) for the period.