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 appointed Angela Barrie as West Health Market Business Leader, effective immediately. Based in Seattle, her role focuses on enhancing brand awareness and driving revenue growth in Mercer’s Health business. Barrie brings over 20 years of experience in healthcare consulting, most recently as Vice President of Employer Solutions at ConsumerMedical. She will leverage her experience from prior roles at top firms including Willis Towers Watson and Aon to strengthen Mercer's position in the West coast market.
Mercer has appointed Pat Tomlinson as President, US & Canada, and Stephanie Penner as US East Market CEO, both based in New York. Tomlinson, with over 20 years of experience in HR consulting, previously led Mercer's Career business in North America. Penner has also worked for over two decades, focusing on workforce strategies. CEO Martine Ferland expressed confidence in their leadership as the company grows post-COVID, stating they will enhance client service and business expansion.
The Oliver Wyman Global Fleet & Maintenance, Repair, and Overhaul (MRO) Forecast indicates that by 2031, the global aviation fleet will be smaller due to the COVID-19 pandemic, with fewer aircraft leading to constrained growth. Airlines are expected to return to 2019 operations levels only by 2022. The forecast predicts a loss of over $95 billion in MRO revenue compared to pre-COVID forecasts. However, there are bright spots, such as strong demand for narrowbody aircraft deliveries, which are projected to recover faster.
Marsh & McLennan (NYSE:MMC) reported its fourth-quarter and full-year 2020 financial results, highlighting a 3% annual revenue growth, totaling $17.2 billion. The fourth quarter alone generated $4.4 billion, a 4% increase year-over-year. Adjusted earnings per share rose 7% to $4.97. Operating income for 2020 was $3.1 billion, while net income reached $2.0 billion. Notably, the Risk & Insurance Services segment saw a 6% revenue increase in Q4, while Consulting experienced a decline in underlying revenue. The company also completed eight acquisitions in 2020, marking a record year for MMA.
The Board of Directors of Marsh & McLennan Companies (NYSE: MMC) has declared a quarterly dividend of $0.465 per share on outstanding common stock. This dividend will be paid on February 12, 2021, to stockholders of record as of February 1, 2021. Marsh & McLennan, a leading professional services firm with an annual revenue of $17 billion, serves clients in over 130 countries across various sectors including risk management and strategic advice.
The HERO and Mercer collaboration released the 2020 Progress Report for the HERO Health and Well-being Best Practices Scorecard. This report highlights a 30% increase in companies completing the HERO Scorecard since 2018, reflecting a growing commitment to employee well-being. Key findings reveal that 30% of senior leaders view health as linked to business results, an increase from 22% in 2016. The report emphasizes the importance of organizational support for well-being initiatives, with a focus on strategic planning and data utilization for improved outcomes.
Marsh & McLennan (NYSE: MMC) has announced its commitment to combat climate change by achieving carbon neutrality by 2021 and reducing carbon emissions by 15% below 2019 levels by 2025. CEO Dan Glaser emphasized the company's responsibility towards the environment. The new climate initiatives align with existing efforts within the company, including the launch of a renewable industry practice in insurance broking and support for clients managing climate risks. Further details will be provided in the upcoming 2020 ESG report scheduled for March.
A new report from Oliver Wyman reveals significant disparities in leadership perceptions between men and women. While men prioritize traits like directness and decisiveness, women emphasize empowerment and collaboration. Notably, only 6% of US CEOs are female, with women often feeling underrepresented in corporate leadership. The report indicates that sponsorship is crucial for women's advancement, with 95% of women interviewed citing a sponsor's influence on their success. The study, based on over 160 interviews, calls for corporate culture changes to enhance inclusion.
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Mercer has appointed Ravin Jesuthasan as the Global Leader for Transformation Services, based in Chicago. He will lead the company's Transformation Center of Excellence and report to Ilya Bonic. With nearly 30 years in HR consulting, Jesuthasan previously led Willis Towers Watson's Talent and Rewards practice. His expertise in workforce transformation is expected to aid organizations as they adapt post-COVID-19. Mercer, part of Marsh & McLennan (NYSE: MMC), employs over 25,000 people across 44 countries.