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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), a leading professional services firm, announced the results of its 2024 Annual Meeting of Stockholders.
All 11 director nominees were elected for a one-year term, including Anthony K. Anderson, John Q. Doyle, and others. Ray G. Young and Bruce P. Nolop did not seek re-election, with Nolop retiring after 16 years of service.
Stockholders ratified Deloitte & Touche LLP as the independent public accounting firm for 2024 and approved the executive compensation by non-binding vote. A proposal for stockholder action by written consent was rejected.
An audio webcast of the meeting will be available on Marsh McLennan's website.
Marsh McLennan (NYSE: MMC) introduced Sentrisk, an AI-powered platform to revolutionize global supply chain risk management. With the rising threat to supply chains from geopolitical tensions and climate-related events, Sentrisk offers advanced technologies to map supply chains comprehensively and develop risk mitigation strategies. The tool provides deep insights into supply chain vulnerabilities, alerting users of disruptions and offering risk advisory services. Sentrisk addresses natural hazards, geopolitical, climate-related, reputational risks, and single-supplier dependencies, enhancing clients' resilience.
Marsh McLennan Agency, a subsidiary of Marsh, acquires AC Risk Management, an independent commercial lines brokerage in Melville, New York, specializing in property/casualty insurance for the construction industry. The terms of the acquisition were not disclosed. ACRM employees, including CEO Matt Avellino, will continue working in their Melville office. The move aims to enhance risk mitigation services for businesses in the Long Island community.
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