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 professional services firm in the finance and insurance sector, active in insurance brokerage, risk and reinsurance services, investment and retirement advisory, workforce consulting and management consulting. News about Marsh McLennan and its businesses highlights developments in risk, strategy and people across its four main businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman.
On this page, readers can find news about Marsh McLennan’s corporate actions, such as authorizations of share repurchase programs and changes to its New York Stock Exchange ticker symbol in connection with a brand change to Marsh. Coverage also includes governance and leadership updates disclosed through company communications and SEC-referenced announcements.
Marsh-related news often focuses on risk topics and insurance brokerage activities, including research on cyber risk, ransomware, and third-party cyber incidents, as well as regional expansion moves through Marsh McLennan Agency acquisitions of local insurance brokerages. Mercer-related news features remuneration and workforce insights, such as total remuneration surveys that analyze salary trends, incentive plans and benefits, and announcements regarding workplace savings and private market investment vehicles.
Oliver Wyman news commonly centers on management consulting insights and collaborative reports with organizations like the World Economic Forum and industry associations, addressing themes such as the global sports economy and the industrial goods sector. Together, these updates provide a view into how Marsh McLennan’s businesses engage with clients and industries worldwide. Investors and observers can use this news feed to follow Marsh McLennan’s research publications, strategic transactions, and other significant announcements across its risk, reinsurance, investments and consulting activities.
On September 19-21, 2022, over 300 healthcare leaders from 150 companies will gather in Chicago for the 10th annual Oliver Wyman Health Innovation Summit. Titled "New Norms, New Expectations", the event aims to address significant industry challenges such as competition and workforce issues while exploring opportunities for transformation. Keynote speakers include leaders from organizations like the Elton John AIDS Foundation, Rubicon Founders, and Houston Methodist Hospital. Attendees will engage in immersive exhibits and executive sessions focusing on the future of healthcare.
Oliver Wyman has completed the acquisition of Booz Allen Hamilton's strategy consulting business in MENA, significantly enhancing its expertise in sectors like financial services, energy, and sustainability. This strategic move, deemed one of the most significant in a decade, aims to address key client issues and opportunities. The integration will place Booz Allen's consulting practice within Oliver Wyman's UAE and KSA offices, expanding its global workforce to over 5,700 professionals across 70+ offices. Financial terms of the deal were not disclosed.
Marsh McLennan Agency (MMA) has announced the acquisition of Steinberg & Associates, Inc., a well-known independent agency located in Spartanburg, South Carolina. This strategic move aims to enhance MMA's client services in the region, extending their reach in North and South Carolina, and Georgia. Terms of the deal were not disclosed. The acquisition is expected to leverage Steinberg's expertise and provide improved resources for clients, while Hank Steinberg and his team will join MMA to further support their clientele.
Mercer, a global consulting firm under Marsh McLennan (NYSE: MMC), has announced a new Global Wealth leadership team aimed at enhancing its Investments & Retirement business. Effective September 1, Mick Dempsey becomes President of Investments & Retirement, succeeding Rich Nuzum, who now serves as Executive Director and Chief Investment Strategist. Chris Mahoney steps into the role of Global Defined Benefit/Defined Contribution Leader. This restructuring aims to drive innovation and meet evolving client needs in a dynamic investment landscape.
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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 $0.535 to $0.590 per share. The dividend is scheduled for payment on August 15, 2022, to stockholders recorded on July 28, 2022. With annual revenues around $20 billion, Marsh McLennan continues to be a leader in professional services related to risk, strategy, and people, advising clients across 130 countries.