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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 (NYSE: MMC) has priced $400 million of 2.375% Senior Notes due 2031 and $350 million of 2.900% Senior Notes due 2051. The net proceeds will be used for general corporate purposes, including potential repayment of $500 million in 2.750% Senior Notes maturing on January 30, 2022. The offering's closing is slated for December 8, 2021, pending customary conditions. Bank of America, Citigroup, J.P. Morgan, and Wells Fargo are joint book-running managers for the offering.
On December 1, 2021, Oliver Wyman announced the promotion of 62 senior professionals to Partners, marking the largest class of new Partners in the firm's history. Effective January 1, 2022, these individuals are set to enhance client services globally. According to CEO Nick Studer, this new class comprises talented advisors dedicated to client and organizational success. Oliver Wyman is a leading management consulting firm with over 5,000 professionals across 60 cities, specializing in strategy, operations, risk management, and organizational transformation.
Marsh McLennan Agency (MMA) has acquired InSource Insurance Group LLC, an independent agency based in Texas. This strategic move enhances MMA's presence in the Southwest region, particularly in the energy sector, aligning with InSource's expertise in providing business insurance and employee benefits since 1986. InSource brings 45 employees from Midland and Odessa, Texas, strengthening MMA's regional capabilities. Although transaction terms were not disclosed, this acquisition is anticipated to bolster client service and offerings in West Texas.
Marsh has appointed Pat Donnelly as President of Marsh US and Canada, effective January 1, 2022. Donnelly, who has over 20 years of experience in the industry, will succeed Martin South, recently appointed President and CEO of Marsh. His leadership is expected to guide Marsh through a challenging risk landscape while enhancing client solutions. Marsh McLennan, the parent company, reports annual revenue exceeding $18 billion and operates globally with around 40,000 employees.
Marsh McLennan (NYSE: MMC) announced major executive changes effective January 1, 2022.
Marsh McLennan Agency (MMA) has expanded its presence in the Mid-Atlantic region by acquiring Pelnik Insurance, a prominent independent agency based in North Carolina. Founded in 1994 and employing 19 people, Pelnik specializes in business insurance, employee health and benefits, and private client services. All Pelnik employees will join MMA, enhancing the agency's capabilities and client offerings in the region. CEO John Stanchina emphasized the strategic importance of this acquisition for growth and quality service delivery.
Marsh McLennan Agency (MMA) has acquired Southwest Truck Insurance Agency, a prominent independent agency in Irving, Texas, specializing in insurance for the trucking industry. Founded in 1986, Southwest Truck Insurance has expertise in domestic and cross-border trucking, serving clients in the U.S. and Mexico. All employees, led by President John Phillips, will continue with MMA. This acquisition strengthens MMA's capabilities in the trucking sector and is expected to enhance service delivery and client solutions amidst growing industry demands.
The 2021 Urban Mobility Readiness Index, launched by Oliver Wyman Forum and UC Berkeley Institute of Transportation Studies, highlights major shifts in urban mobility post-COVID-19. Stockholm ranks first, followed by San Francisco, which rose to second due to reduced congestion from remote work. The new sustainable mobility sub-index shows cities prioritizing investments in electric vehicles and infrastructure. Although Scandinavian cities excel, regions like Singapore and London face challenges, impacting their mobility improvements.
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