Welcome to our dedicated page for Marsh & Mclennan news (Ticker: MMC), a resource for investors and traders seeking the latest updates and insights on Marsh & Mclennan stock.
Marsh & McLennan (NYSE: MMC) is a global leader in professional services specializing in risk management, insurance brokerage, and strategic consulting. This dedicated news hub provides investors and industry professionals with verified updates directly from the company and authoritative third-party analysis.
Access comprehensive collection of earnings reports, strategic initiatives, and leadership updates alongside expert commentary on MMC's market position. Our curated feed simplifies tracking regulatory developments and industry trends impacting this Fortune 500 firm.
Key coverage areas: quarterly financial disclosures, mergers & acquisitions activity, corporate governance changes, and recognition within insurance/consulting sectors. All content undergoes strict verification to ensure compliance with financial reporting standards.
Bookmark this page for real-time updates on MMC's global operations across 130+ countries. Monitor critical developments in risk solutions through Marsh, reinsurance advisory via Guy Carpenter, and consulting services from Mercer/Oliver Wyman through one centralized source.
Marsh McLennan Agency (MMA) has acquired Focus Insurance, a Houston-based personal insurance brokerage, enhancing its presence in the Southwest region. Founded in 2001, Focus Insurance specializes in personalized insurance solutions across the U.S. All employees, including Vice President Mickie Comiskey, will join MMA, which aims to leverage its resources to provide comprehensive programs. MMA's CEO for the Southwest region, Bill Henry, emphasized the strategic importance of this acquisition for continued regional growth.
On November 1, 2022, Oliver Wyman, a Marsh McLennan business, announced the acquisition of Avascent, a management consulting firm specializing in the Aerospace and Defense sector. This acquisition enhances Oliver Wyman's capabilities within the A&D market, leveraging Avascent's expertise in corporate and private equity consulting. The integration will involve around 130 Avascent professionals, including 10 partners, into Oliver Wyman's practices. The financial details of the transaction remain undisclosed.
Backstop Solutions and Mercer released the 2022 Institutional Investor Productivity Study, revealing allocators work an average of 50 hours weekly, with 13% of that time on non-core, non-value-adding tasks. Allocators struggle with manual tasks and lack integration in internal systems, consuming 6.5 hours weekly on unproductive activities. Over 40% cite hiring and retaining talent as their biggest challenge. The study surveyed 100 asset allocators between June 27 and August 15, 2022, highlighting the growing need for efficiency in the institutional investment space.
The 2022 Inside Employees' Minds study by Mercer indicates that 36% of US employees are considering leaving their jobs, a rise from 28% in 2021. Financial stability is the top concern, with 75% reporting increased stress due to high inflation. Issues like pay, burnout, and insufficient healthcare benefits are primary reasons for potential turnover. Interestingly, 62% have cut spending, and nearly 1 in 3 low-income workers have taken on extra jobs. While DEI practices are improving, underrepresented workers, particularly LGBTQ+ employees, face unique challenges.
Marsh McLennan (NYSE: MMC) has priced $500 million in 5.750% Senior Notes due 2032 and $500 million in 6.250% Senior Notes due 2052. The proceeds will be used for general corporate purposes, including the potential redemption of $350 million of 3.300% Senior Notes due March 2023. The offering's closing is anticipated on October 31, 2022, contingent on standard closing conditions. This press release is not a notice of redemption for the 2023 Notes.
Marsh McLennan reported a 4% increase in GAAP revenue for Q3 2022, reaching $4.8 billion, with underlying revenue rising 8%. Operating income also rose 7% to $791 million. GAAP EPS increased by 3% to $1.08, and adjusted EPS climbed 9% to $1.18. For the nine-month period, GAAP EPS reached $5.11, reflecting a 12% growth. The company experienced strong performance in its Risk & Insurance Services and Consulting segments, while also repurchasing 3.1 million shares for $500 million during the quarter.
Oliver Wyman has announced its agreement to acquire Avascent, a top-tier management consulting firm in the aerospace and defense sector. This acquisition aims to enhance Oliver Wyman's expertise, particularly in serving corporate and private equity clients. Avascent, with over 130 professionals globally, will integrate into Oliver Wyman's existing practices, expecting to close the deal by year-end. The transaction's financial terms remain undisclosed, but the merger is anticipated to strengthen Oliver Wyman's position in the aerospace and defense market.
The 14th annual Mercer CFA Institute Global Pension Index (MCGPI) ranks Iceland as the top retirement income system for the second consecutive year, with an index score of 84.7. The Netherlands and Denmark follow closely with scores of 84.6 and 82.0, respectively. The study covers 44 pension systems, affecting 65% of the global population, highlighting a shift from defined benefit to defined contribution plans, increasing financial risks for retirees. Key recommendations for reform include enhancing retirement benefits amidst challenges like inflation and rising interest rates.
Mercer, a division of Marsh McLennan (NYSE: MMC), has appointed Marc Cordover as the new US Investments and Retirement Leader, effective immediately. Cordover, previously the East Wealth Market Business Leader, will oversee Mercer’s investment and retirement solutions and will report to Pat Tomlinson, President of US & Canada. With over 25 years of experience at Mercer, Cordover brings a strong track record in client management and leadership. His appointment aims to strengthen Mercer's capabilities in addressing client challenges amid financial volatility.
Oliver Wyman, a global management consulting firm and a business of Marsh McLennan (NYSE: MMC), announced the launch of a new actuarial practice in the Asia Pacific region, aimed at serving its expanding client base. Marco Warmelink will lead this new team from Hong Kong, bringing over 25 years of life insurance industry experience. This strategic move is expected to enhance Oliver Wyman's offering in the region and bolster its growth trajectory.
