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.
Oliver Wyman, a consulting firm under Marsh McLennan (NYSE: MMC), has opened a new Actuarial office in Bermuda, led by Faisal Haddad. This expansion aims to enhance service delivery for clients in Bermuda and the US with Bermuda subsidiaries, addressing the rising demand for actuarial services. David Weinsier, US Insurance Practice Leader, emphasized that this local presence will improve collaboration with the insurance sector. Haddad brings over 15 years of international experience in offshore reinsurance, previously serving as Chief Actuary at Brookfield's offshore entities.
Marsh McLennan (NYSE: MMC) reported a strong financial performance for Q2 2022, with GAAP revenue increasing 7% to $5.4 billion. Underlying revenue rose 10%, and operating income grew 11% to $1.4 billion. GAAP EPS increased 19% to $1.91, while adjusted EPS rose 8% to $1.89. For the first half of 2022, consolidated revenue was $10.9 billion, up 8%. The company repurchased 3.8 million shares for $600 million and announced a 10% increase in its quarterly dividend to $0.590 per share. The report highlights robust demand for Marsh McLennan's services across its operations.
According to a recent Mercer poll at the Global Investment Forum, over 350 asset managers express uncertainty about the global economy, identifying overheating (26%), stagflation (24%), and hard landing (22%) as likely scenarios. Notably, 58% believe their equity portfolios should diverge from market cap weights, with 75% focusing on carbon transition. The poll highlights increased allocations to private markets, renewed interest in hedge funds, and emphasizes the importance of active manager selection for diversification and outperformance in volatile market conditions.
The Board of Directors of Marsh McLennan (NYSE: MMC) announced a 10.3% increase in its quarterly dividend, raising it from
Marsh McLennan Agency (MMA) has acquired CS Insurance Strategies, Inc., a Chicago-based insurance agency specializing in employee health, business insurance, and risk management. Founded in 2009, CS Insurance is minority-owned and serves diverse clients, particularly in municipal and non-profit sectors. The acquisition enhances MMA's capacity to deliver competitive solutions and expands growth opportunities for both organizations. All ten CS Insurance employees will join MMA, indicating a commitment to integrating local expertise into MMA's broader service offerings.
Marsh McLennan (NYSE: MMC) will announce its second quarter financial results on July 21, 2022, prior to market opening. The results will be accessible via a press release on marshmclennan.com. Following the announcement, executives including President and CEO Dan Glaser will conduct a teleconference at 8:30 a.m. EDT to discuss the results and address investor queries. Marsh McLennan, a global leader in professional services, has an annual revenue of approximately $20 billion and serves clients in 130 countries.
Marsh McLennan (NYSE: MMC) announces the appointment of
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