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.
Marsh McLennan (NYSE: MMC) reported strong Q2 2024 results with 6% underlying revenue growth and 10% adjusted EPS growth. Key highlights include:
- GAAP revenue increased 6% to $6.2 billion
- Operating income rose 13% to $1.6 billion
- Adjusted operating income up 11% to $1.7 billion
- Earnings per share increased 10% to $2.27
- Adjusted EPS up 10% to $2.41
For the first half of 2024, consolidated revenue was $12.7 billion, up 8% on both GAAP and underlying basis. The company repurchased 1.5 million shares for $300 million in Q2 and increased its quarterly dividend by 15% to $0.815 per share.
A recent Oliver Wyman Forum survey highlights that 96% of CEOs from NYSE-listed companies view AI as a significant growth opportunity. Additionally, 75% of CEOs consider mergers and acquisitions (M&A) and disruptive new business models essential for growth. The survey, titled 'The New Growth Agenda,' also reveals that 71% of CEOs are optimistic about the impact of changing customer demographics, preferences, and expectations on growth. Despite this optimism, CEOs are wary of risks such as regulation, protectionism, inflation, and geopolitical instability. The survey involved over 100 CEOs from diverse industries, providing a comprehensive look at current market sentiments and future strategies.
Marsh McLennan (NYSE: MMC) has appointed Jan Siegmund to its Board of Directors. Effective immediately, the company's Board now includes 12 members. Siegmund, who has over 30 years of experience in corporate finance, strategy, and consulting, previously served as CFO at Cognizant Technology Solutions and ADP. Both H. Edward Hanway, Chair of the Board, and John Doyle, President and CEO, expressed enthusiasm about Siegmund's extensive expertise enhancing the Board's skills and perspectives. Siegmund also sits on the Board of Western Union.
The Board of Directors of Marsh McLennan (NYSE: MMC) has announced a 15% increase in the quarterly cash dividend. The dividend will rise from $0.710 to $0.815 per share on outstanding common stock.
This increased dividend will be payable on August 15, 2024, to shareholders of record as of July 25, 2024.
Marsh McLennan Agency (MMA), a subsidiary of Marsh, is set to acquire The Horton Group, a top independent insurance broker based in Orland Park, IL. Horton, founded in 1971, is known for its expertise in property and casualty insurance, employee benefits consultation, and personal lines coverage, serving clients in Indiana, Illinois, Wisconsin, Minnesota, and Florida. The financial details of the acquisition were not disclosed. Horton's CEO, Dan Horton, along with the company's employees, will join MMA and continue to operate from their current nine offices. The acquisition is expected to close by the third quarter of 2024, with both companies looking forward to leveraging their combined capabilities to offer enhanced risk management solutions to clients.
Marsh McLennan Agency (MMA), a subsidiary of Marsh, has acquired AmeriStar Agency, an independent insurance agency based in Wayzata, Minnesota. AmeriStar, founded in 1987, provides insurance solutions for high net worth individuals and commercial clients. All AmeriStar employees, including President Matt Schadow, will join MMA and continue operating from their current location. Timothy Fleming, Chairman of MMA's Upper Midwest region, highlighted that this acquisition aligns with MMA's growth strategy and aims to enhance risk management services for clients. Schadow emphasized that joining MMA is a milestone that will allow AmeriStar to offer improved services and leverage MMA's expertise and resources.
Oliver Wyman, a division of Marsh McLennan (NYSE: MMC), has completed its acquisition of Veritas Total Solutions, a commodity trading advisory firm. This move aims to enhance Oliver Wyman's capabilities in risk, systems, analytics, and AI for the commodity trading industry. The Veritas team will integrate with Oliver Wyman in Houston, Texas, a key energy hub. The acquisition is expected to provide advanced trading optimization expertise to commodity trading businesses. Financial terms were not disclosed.
Marsh McLennan Agency (MMA), a subsidiary of Marsh, has announced the acquisition of Hudson Shore Group, a leading employee benefits broker specializing in public and private sector clients. Based in Red Bank, NJ, Hudson Shore Group, founded in 2010, offers comprehensive employee benefits, consulting, and administrative services. The acquisition aims to enhance MMA's employee health and benefits programs, particularly for local school districts and municipalities. Financial terms were not disclosed. Hudson Shore Group's entire team, including founder and CEO Derek Dailey, will remain in their current roles.
Mercer, a business of Marsh McLennan (NYSE: MMC), has released its Survey on Health and Benefit Strategies for 2025. Despite rising healthcare costs, most US employers plan to maintain or even enhance their health benefits. Ed Lehman, US Health and Benefits Leader at Mercer, emphasized the importance of employers carefully assessing their health investments to balance cost and quality care.
The survey found that 36% of large employers will offer high-performance networks or alternative medical plans. There is also significant growth in inclusive reproductive health benefits. By 2025, 35% of large employers will provide pre-conception planning, and benefits for women returning to work post-parenthood will rise to 31%. Additionally, 45% of large employers currently offer IVF coverage, and resources for menopause management will increase from 4% to 18% next year.
Coverage for weight-loss medications is also expanding, with 27% of employers considering adding it despite high costs. Furthermore, over half of large employers are implementing or planning policies to address climate-related health impacts.
New Energy Risk (NER) and Westfield Syndicate have launched a new Lloyd’s lineslip, increasing capacity for technology performance insurance in the energy transition sector.
This initiative aims to support innovative technologies in areas such as fuel cells, hydrogen, and carbon capture. With the passage of the Inflation Reduction Act in the U.S. and similar support in the U.K. and Europe, the energy transition is at a critical juncture.
Since 2013, NER has enabled over $4 billion in capital deployments, with nearly $1 billion in the past year alone. Partnering with Lloyd’s, NER seeks to continue supporting the development of new technologies essential for climate and sustainability goals.
The additional capacity will help meet the growing demand for insurance in the renewable energy sector, with Guy Carpenter serving as the sole placing broker. This collaboration aims to address the insurance demand-supply gap in the energy transition space.