Marsh & McLennan Companies, Inc. (MRSH) issued €600 million of 4.250% Senior Notes due 2032 and €600 million of 4.625% Senior Notes due 2036 on October 27, 2026. The company entered into the underwriting agreement on October 20, 2026, and the underwriters agreed to purchase both tranches from the company.
The notes were offered under the company’s effective Form S-3 shelf registration statement and an October 20, 2026 prospectus supplement. Marsh & McLennan also entered into a supplemental indenture and a paying agency agreement dated October 27, 2026.
Marsh & McLennan Companies, Inc. reported that Dean Michael Klisura, President & CEO, Marsh RE, sold 4,194 shares of common stock at $200 per share on October 23, 2026. The sale was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the reporting person. Klisura held 20,935 shares directly after the transaction.
Marsh & McLennan Companies, Inc. (MRSH) Vice President and Controller Stacy Mills sold 1,215 shares of common stock at $200 per share on October 23, 2026, under a Rule 10b5-1 trading plan previously adopted by the reporting person. The reported post-sale balance was 2,705 shares. A footnote says the reported balance reflects a 231-share reduction to correct prior underreporting of tax withholding.
Stacy Mills, an officer of Marsh & McLennan Companies, Inc. (MRSH), reported a proposed sale of 1,215 common shares, with an aggregate market value of $243,000.00. The approximate sale date is October 23, 2026. Fidelity Brokerage Services LLC is listed as the broker and NYSE as the exchange. The shares are listed as acquired from the issuer through restricted stock vesting on February 28, 2026, as compensation.
Marsh & McLennan Companies, Inc. officer Dean Michael Klisura reported a proposed sale of 4,194 common shares through Fidelity Brokerage Services LLC, with an aggregate market value of $838,800 and an approximate sale date of October 23, 2026. The shares were acquired from the issuer through restricted stock vesting on February 28, 2026, as compensation.
Marsh & McLennan Companies, Inc. (MRSH) is offering €1,200,000,000 of senior unsecured notes: €600,000,000 of 4.250% notes due March 15, 2032, and €600,000,000 of 4.625% notes due November 15, 2036. Interest is payable annually, beginning March 15, 2027, for the 2032 Notes and November 15, 2026, for the 2036 Notes.
The company expects net proceeds of approximately €1,190,412,000 after the underwriting discount and before estimated offering expenses, for general corporate purposes. The Notes rank equally with the company’s other senior unsecured indebtedness. As of September 30, 2026, the company had approximately $18.7 billion of outstanding senior unsecured indebtedness, excluding subsidiary debt; subsidiary debt was approximately $200 million, to which the Notes will be structurally subordinated.
Interest and principal are payable in euros, with U.S.-dollar payments possible in specified circumstances if the company cannot obtain euros or the euro is no longer used as described. The company may redeem either series under the stated redemption provisions. It intends to apply to list the Notes on the New York Stock Exchange, subject to approval, and expects listing within 30 days after the original issue date. No established trading market currently exists for the Notes.
Marsh & McLennan Companies, Inc. plans a primary offering of two series of euro-denominated senior notes. The company intends to use net proceeds for general corporate purposes. The notes will be senior unsecured obligations ranking equally with the company’s other senior unsecured debt. As of September 30, 2026, that debt was approximately $18.7 billion; subsidiary debt was approximately $200 million, to which the notes will be structurally subordinated.
Interest, principal and redemption payments are generally payable in euros. In specified circumstances when the company cannot obtain sufficient euros, payments may instead be made in U.S. dollars under the described conversion-rate procedures. The notes will be issued in denominations of €100,000 and integral multiples of €1,000 above that amount. The company intends to apply for NYSE listing, subject to NYSE approval, and expects listing within 30 days after the original issue date. The notes are a new issue with no established trading market.
Marsh & McLennan Companies, Inc. (MRSH) reported third-quarter 2026 revenue of $6.863 billion and net income attributable to the company of $808 million, compared with $6.351 billion and $747 million a year earlier. Diluted earnings per share were $1.69 versus $1.51. Risk and Insurance Services revenue was $4.200 billion and Consulting revenue was $2.685 billion, compared with $3.907 billion and $2.465 billion, respectively, in third-quarter 2025.
For the nine months ended September 30, 2026, revenue was $21.864 billion and net income attributable to the company was $3.220 billion, versus $20.386 billion and $3.339 billion, respectively. Net cash provided by operations was $2.313 billion, compared with $3.131 billion a year earlier. The company completed six Risk and Insurance Services acquisitions and two Consulting acquisitions, with total purchase consideration of $550 million.
Marsh & McLennan repurchased 11.4 million shares for $2.0 billion during the nine-month period and had authorization to repurchase up to approximately $3.7 billion as of September 30, 2026. A $0.990-per-share dividend declared in September is payable in November 2026. In the third quarter of 2026, the estimated cost of the three-year Thrive program was increased to approximately $750 million from $500 million; $310 million had been incurred through September 30, 2026.
Marsh & McLennan Companies, Inc. (MRSH) reported third-quarter 2026 revenue of $6.863 billion, up 8% year over year and 5% on an underlying basis. Operating income increased 4% to $1.215 billion, and adjusted operating income rose 6% to $1.527 billion. Net income attributable to the company was $808 million; adjusted EPS increased 10% to $2.03, while GAAP diluted EPS was $1.69.
For the nine months ended September 30, 2026, revenue was $21.864 billion, up 7% (5% underlying). Operating income declined 3% to $4.868 billion, while adjusted operating income increased 7% to $6.106 billion. Net income attributable to the company was $3.220 billion; adjusted EPS increased 9% to $8.29, while GAAP diluted EPS was $6.68, compared with $6.75 in the same period of 2025. Cash provided by operations was $2.313 billion, compared with $3.131 billion a year earlier. Consulting revenue grew 9% in Q3, and Risk and Insurance Services revenue grew 7%.
During Q3, Marsh repurchased approximately 2.7 million shares for $500 million. Through the first nine months, it repurchased 11.4 million shares for $2.0 billion. It also repaid 550 million of Euro-denominated senior notes that matured in September.
MARSH & MCLENNAN COMPANIES, INC. is having its 1.349% Senior Notes due 2026 removed from listing and registration on the New York Stock Exchange. The NYSE states it has complied with its rules to strike this debt security, and the issuer has complied with applicable exchange and SEC requirements for voluntary withdrawal.