Welcome to our dedicated page for Marsh & McLennan Companies news (Ticker: MMC), a resource for investors and traders seeking the latest updates and insights on Marsh & McLennan Companies stock.
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.
Mercer has appointed Jennifer Kruse as the new US Outsourced Chief Investment Officer (OCIO) Leader, effective immediately. Kruse will manage Mercer’s OCIO business, focusing on strategic initiatives and client relationship expansion. Previously serving as Head of Clients for US Investment Solutions, she has over 15 years of investment and consulting experience. Mercer, a part of Marsh McLennan (NYSE: MMC), oversees $354 billion in global assets under management in its OCIO business since 2005. Her experience is expected to drive innovative strategies and improve client services amid volatile market conditions. Kruse expressed enthusiasm about leading the talented OCIO team as it continues to deliver value to its clients.
Marsh McLennan reported strong financial results for the first quarter of 2023, with consolidated revenue reaching $5.9 billion, a 7% increase from the previous year. Underlying revenue grew 9%, while operating income rose 19% to $1.7 billion. The company's net income was $1.2 billion, equating to $2.47 per diluted share, representing an 18% increase year-over-year. Adjusted EPS also improved by 10% to $2.53. Key segments showed solid growth, with Risk & Insurance Services revenue at $3.9 billion (+10%) and Consulting revenue at $2.0 billion (+1%). The company also returned $300 million to shareholders through stock repurchases and issued $600 million in senior notes.
Marsh McLennan (NYSE: MMC) has released a report from its Cyber Risk Analytics Center linking key cybersecurity controls to reduced cyber incident risks. The report emphasizes automated hardening techniques as the most effective control, making organizations nearly six times less likely to experience a cyber incident. It challenges previous insurance recommendations, highlighting that multifactor authentication (MFA) shows significant effectiveness only when broadly implemented. Additionally, patching high-severity vulnerabilities within seven days decreased the likelihood of incidents by a factor of 2, but only 24% of organizations implement this control. The insights aim to guide organizations in making informed cybersecurity investments, positively influencing their stance in the cyber insurance market.
Marsh McLennan (NYSE: MMC) has announced the merger of BT Super into the Mercer Super Trust, creating a significant super fund in Australia. This merger results in one of Australia’s largest super funds, with around 850,000 members and $63 billion in assets under management. Additionally, Mercer has acquired Advance Asset Management Limited, enhancing its investment management capabilities. The company aims to redefine retirement for clients by providing improved investment options and fee reductions. With $345 billion assets under management, Mercer is poised to benefit from its global scale and a team of 2,000 investment professionals.
The Board of Directors of Marsh McLennan (NYSE: MMC) has appointed Judith Hartmann and Ray G. Young as new directors, expanding the Board to 15 members. Hartmann, former Deputy CEO and CFO of ENGIE, has significant experience in finance and international operations, while Young served as Vice Chairman and CFO of ADM. The Chairman emphasized the importance of corporate governance and succession planning. Company executives expressed confidence that the new appointees will enhance the Board with their expertise in governance and leadership.
FAQ
What is the current stock price of Marsh & McLennan Companies (MMC)?
What is the market cap of Marsh & McLennan Companies (MMC)?
What is Marsh McLennan?
What are the main business segments of Marsh McLennan?
Which companies are part of Marsh McLennan's Risk and Insurance Services segment?
Who are the main consulting entities under Marsh McLennan?
What recent initiative has Oliver Wyman announced?
What is the National Commission on Climate and Workforce Health?
Where is Marsh McLennan headquartered?
What percentage of Marsh McLennan’s revenue is generated outside the U.S.?
How many employees does Marsh McLennan have?
What is the annual revenue of Marsh McLennan?
