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.
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.
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Marsh McLennan Agency (MMA) has acquired CS Insurance Strategies, Inc., a Chicago-based insurance agency specializing in employee health, business insurance, and risk management. Founded in 2009, CS Insurance is minority-owned and serves diverse clients, particularly in municipal and non-profit sectors. The acquisition enhances MMA's capacity to deliver competitive solutions and expands growth opportunities for both organizations. All ten CS Insurance employees will join MMA, indicating a commitment to integrating local expertise into MMA's broader service offerings.
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