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Marsh & McLennan Companies, Inc. (MMC), commonly known as Marsh McLennan, is a renowned global professional services firm headquartered in New York City. The company specializes in providing advanced advice and solutions in the sectors of insurance brokerage, risk management, reinsurance services, talent management, investment advisory, and management consulting.
The company operates through two main segments: Risk and Insurance Services and Consulting. In the Risk and Insurance Services segment, Marsh McLennan operates mainly through Marsh, an insurance broker, and Guy Carpenter, a risk and reinsurance specialist. These entities help clients navigate various risks, including financial, operational, and strategic risks.
On the consulting front, Marsh McLennan is represented by two key businesses: Mercer and Oliver Wyman. Mercer provides human resource services, including talent management, health benefits planning, and M&A advisory services. Oliver Wyman offers management consulting services, delivering expertise in strategy, operations, and risk management to clients across numerous industries.
Recently, Marsh McLennan's management consulting arm, Oliver Wyman, announced the combination of its legacy aviation brand CAVOK and newly acquired SeaTec Consulting Inc., rebranded as Oliver Wyman Vector. This new brand aims to provide enhanced technical and digital expertise across the aviation, aerospace, defense, and rail industries.
Another significant initiative includes the formation of the National Commission on Climate and Workforce Health, created to address the growing threats that climate change poses to workforce health. This initiative, supported by various business leaders and health experts, emphasizes the importance of building climate-resilient workforces. Mercer, a key player in Marsh McLennan's consulting segment, is actively involved in this effort, providing strategic input and support.
Marsh McLennan generates about half of its revenue from markets outside the U.S., showcasing its global reach and diversified client base. The company's financial condition remains robust, with annual revenues exceeding $23 billion, supported by its workforce of over 85,000 professionals operating in more than 130 countries.
In light of its recent achievements and ongoing projects, Marsh McLennan continues to solidify its position as a leading professional services firm, offering unparalleled solutions in risk, strategy, and human capital management.
Marsh McLennan's Mercer announced an agreement to acquire SECOR Asset Management, a global provider of strategic and portfolio solutions. The transaction is expected to close in Q2 2025, pending regulatory approvals and client consents. SECOR, founded in 2010, manages $21.5 billion in assets and advises on $13.8 billion as of September 2024.
SECOR specializes in serving institutional investors, including pension funds, insurance companies, endowments, and family offices, offering investment advisory, implementation, fiduciary management, and asset liability management services. Upon completion, SECOR's team of over 40 professionals from New York and London will join Mercer. The financial terms were not disclosed.
Marsh McLennan (NYSE: MMC) reported strong financial results for Q4 and full-year 2024. The company achieved 8% full-year revenue growth reaching $24.5 billion, with 7% underlying revenue growth. Full-year GAAP operating income increased 10% to $5.8 billion, while adjusted operating income rose 11% to $6.2 billion.
Q4 2024 consolidated revenue was $6.1 billion, up 9% year-over-year. The company reported Q4 GAAP EPS of $1.59 and adjusted EPS of $1.87, marking an 11% increase. Full-year GAAP EPS reached $8.18, while adjusted EPS grew 10% to $8.80.
Notable developments include the completion of McGriff Insurance Services acquisition for $7.75 billion in November 2024, funded partly through $7.25 billion in senior notes. The company also repurchased 4.3 million shares for $900 million in 2024.
Marsh McLennan (NYSE: MMC) has announced its latest quarterly dividend distribution. The company's Board of Directors has declared a quarterly dividend of $0.815 per share on outstanding common stock. The dividend will be paid on February 14, 2025, to stockholders who are recorded as shareholders as of January 30, 2025.
Marsh McLennan (NYSE: MMC) has scheduled its fourth quarter financial results announcement for Thursday, January 30, 2025, before market opening. The results will be published via news release on the company's website. President and CEO John Doyle and CFO Mark McGivney will host an investor teleconference at 8:30 a.m. EST, including a question-and-answer session. The event will feature a live audio webcast accessible on marshmclennan.com, with a replay available approximately two hours after the event. While the webcast is listen-only, investors can register separately to participate in the Q&A session.
Marsh McLennan Agency (MMA) has announced the acquisition of Acumen Solutions Group , a Melville, New York-based full-service insurance agency. The acquisition strengthens MMA's presence in the Northeast region and expands its expertise in the construction, real estate, and aviation industries.
Founded in 2012, Acumen provides customized insurance programs to businesses and individuals nationwide. All Acumen employees, including President Tony D'Elia, will continue operating from the Melville, NY location. The integration aims to enhance MMA's service capabilities and provide Acumen's clients with access to a broader range of solutions and resources. Financial terms of the acquisition were not disclosed.
Mercer's November 2024 QuickPulse™ US Compensation Planning Survey reveals that employers plan to maintain elevated compensation budgets for 2025, with 3.3% merit increases and 3.7% total salary increases for non-unionized employees. The survey, covering over 850 US organizations, shows 69% of employers are confident in these projections.
The technology sector leads with above-average increases (3.5% merit, 3.8% total), while healthcare services reports lower figures (3.0% merit, 3.5% total). Notably, employers plan to promote 9.3% of employees in 2025, up from 8% in 2024.
The survey also highlights a growing focus on pay transparency, with 18% of companies sharing pay ranges with all employees and candidates, while 27% are considering this approach. Despite economic uncertainty, these figures demonstrate employers' continued commitment to talent investment and retention.
Credit Benchmark and Oliver Wyman have launched IRB Nexus, a credit analytics solution designed to help banks improve their internal ratings-based (IRB) models for low- and no-default portfolios. The solution aggregates over 10 million risk estimates annually from more than 40 major banks worldwide, helping financial institutions validate their IRB models and meet regulatory requirements. IRB Nexus addresses the challenge of assessing risk for portfolios lacking historical data, potentially helping banks avoid increased capital reserve requirements that could limit lending capacity.
Mercer's 2024 National Survey reveals employers are enhancing health benefits while managing rising costs. The average per-employee health insurance cost reached $16,501 in 2024, up 5% from 2023, with a projected 6% increase in 2025. Prescription drug costs rose 7.7% in 2024, driven by GLP-1 medications for diabetes and weight loss.
Notable trends include increased coverage for obesity medications (44% of large employers), IVF treatments (47% of large employers), and expanded medical plan choices. 65% of large employers now offer three or more healthcare options. Additionally, employers are focusing on cancer support, virtual primary care, and specialized health navigation services to improve care quality and accessibility.
ProSight Financial Association has released its fourth annual RMA Chief Risk Officer (CRO) Outlook Survey, revealing key banking risks for 2025. The survey, conducted with Oliver Wyman, gathered insights from 177 CROs and senior risk leaders across U.S. and Canadian banks.
Cybersecurity emerged as the top risk (63%), followed by fraud (44%), technology risk (38%), wholesale credit risk (32%), and third-party risk (32%). A significant 93% of respondents emphasized the need for banks to adapt to increased risk speed, while 84% reported facing higher regulatory standards.
The survey reflects ongoing impacts from the 2023 regional banking crisis, with institutions implementing new early warning indicators, enhanced scenario analysis, and revised crisis management plans.
Marsh McLennan (NYSE: MMC) has completed the acquisition of McGriff Insurance Services, integrating McGriff's 3,500 colleagues into Marsh McLennan Agency (MMA). The acquisition strengthens MMA's middle market presence and enhances its specialty and industry capabilities. McGriff, founded in 1886, is a leading U.S. provider of insurance broking and risk management services. The merger aims to deliver enhanced value to clients while maintaining McGriff's existing client relationships and service teams.
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