Marsh & McLennan Companies, Inc. reports developments across risk, reinsurance and capital advisory, people and investment consulting, and management consulting. Company updates often center on Marsh Risk and its digital risk analytics tools, Mercer workforce, compensation, health and retirement advisory alliances, Oliver Wyman consulting operations, and Marsh McLennan Agency insurance, benefits, retirement and wealth solutions in the U.S. and Canada.
Recurring news also covers quarterly operating results, enterprise partnerships, AI-enabled service delivery, leadership and governance changes, material agreements, and capital-structure matters tied to the company's common stock and debt financing.
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Mercer has appointed Jennifer Kruse as the new US Outsourced Chief Investment Officer (OCIO) Leader, effective immediately. Kruse will manage Mercer’s OCIO business, focusing on strategic initiatives and client relationship expansion. Previously serving as Head of Clients for US Investment Solutions, she has over 15 years of investment and consulting experience. Mercer, a part of Marsh McLennan (NYSE: MMC), oversees $354 billion in global assets under management in its OCIO business since 2005. Her experience is expected to drive innovative strategies and improve client services amid volatile market conditions. Kruse expressed enthusiasm about leading the talented OCIO team as it continues to deliver value to its clients.
Marsh McLennan reported strong financial results for the first quarter of 2023, with consolidated revenue reaching $5.9 billion, a 7% increase from the previous year. Underlying revenue grew 9%, while operating income rose 19% to $1.7 billion. The company's net income was $1.2 billion, equating to $2.47 per diluted share, representing an 18% increase year-over-year. Adjusted EPS also improved by 10% to $2.53. Key segments showed solid growth, with Risk & Insurance Services revenue at $3.9 billion (+10%) and Consulting revenue at $2.0 billion (+1%). The company also returned $300 million to shareholders through stock repurchases and issued $600 million in senior notes.
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