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.
Marsh McLennan (NYSE: MMC) reported strong third quarter 2021 results, with GAAP revenue rising 16% to $4.6 billion and underlying revenue up 13%. Operating income surged 37% to $740 million, while adjusted EPS increased 32% to $1.08. For the first nine months of 2021, consolidated revenue was $14.7 billion, marking a 15% increase. The Risk & Insurance Services segment generated $2.7 billion in revenue (+17%) and Consulting reached $1.9 billion (+13%). The company repurchased 1.9 million shares for $300 million in Q3.
Marsh McLennan (NYSE: MMC) announced the launch of its Cyber Risk Analytics Center, aimed at consolidating cyber risk data and analytics across its divisions: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. This center will provide clients with insights into their cyber threats and risk management strategies. With the increasing prevalence of cyberattacks leading to significant financial losses, the center is designed to enhance clients' resilience to cyber risks. Managing Director Scott Stransky will lead the initiative, supported by collaboration with academic and governmental partners.
Huron (NASDAQ: HURN) has signed an agreement to divest its Life Sciences Business to Oliver Wyman, a unit of Marsh McLennan (NYSE: MMC). This strategic move is aimed at enhancing Huron's focus on organic revenue growth and margin expansion. The Life Sciences Business contributed approximately 2% of Huron's total revenue for the nine months ended September 30, 2021. The transaction is anticipated to close in November 2021 and is projected to have minimal impact on Huron's full-year 2021 financial guidance. The company plans to use the proceeds to reduce debt and pursue strategic acquisitions.
Marsh McLennan (NYSE: MMC) will announce its third quarter financial results on October 21, 2021, before market opening. Following the announcement, President and CEO Dan Glaser and CFO Mark McGivney will host a teleconference at 8:30 a.m. EDT. Investors can participate by dialing 1 866-437-7574 or +1 409-220-9376 for international calls, using access code 4336169. Marsh McLennan, with over $18 billion in annual revenue, provides services in risk, strategy, and people to clients in 130 countries.
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