Marsh & McLennan Companies Inc
NYSE:MMC
Marsh & McLennan Companies Inc
Marsh & McLennan Companies Inc., often simply referred to as Marsh & McLennan, stands as a colossus in the realm of professional services, deftly navigating the complex territories of insurance, risk management, and consulting. The company’s foundation dates back to 1905, built on the enduring ethos of providing strategic advisory and risk management solutions. With its sprawling global presence, Marsh & McLennan is home to four major businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. Marsh, known for its prowess in insurance brokerage, crafts customized insurance and risk management solutions, helping clients mitigate diverse types of risks. Guy Carpenter, on the other hand, offers reinsurance services, providing organizations with the security they need against catastrophic losses.
Meanwhile, Mercer and Oliver Wyman extend the company’s expertise into the arenas of human resources and management consulting. Mercer advises organizations on health, retirement, and investment strategies, assisting them in optimizing benefits for their workforce. Oliver Wyman rounds up the quartet by offering strategic analysis and operational insights to businesses across industries, enabling them to elevate their performance and streamline operations. By seamlessly integrating these distinct yet interrelated services, Marsh & McLennan effectively leverages risk to drive resilience and growth, capitalizing on its comprehensive offerings to generate revenue through consulting fees, brokerage commissions, and risk-transfer solutions. The company’s ability to harness its century-old legacy with contemporary insights establishes it as a pivotal player, adept at responding to the dynamic challenges of today’s global landscape.
Marsh & McLennan Companies Inc., often simply referred to as Marsh & McLennan, stands as a colossus in the realm of professional services, deftly navigating the complex territories of insurance, risk management, and consulting. The company’s foundation dates back to 1905, built on the enduring ethos of providing strategic advisory and risk management solutions. With its sprawling global presence, Marsh & McLennan is home to four major businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. Marsh, known for its prowess in insurance brokerage, crafts customized insurance and risk management solutions, helping clients mitigate diverse types of risks. Guy Carpenter, on the other hand, offers reinsurance services, providing organizations with the security they need against catastrophic losses.
Meanwhile, Mercer and Oliver Wyman extend the company’s expertise into the arenas of human resources and management consulting. Mercer advises organizations on health, retirement, and investment strategies, assisting them in optimizing benefits for their workforce. Oliver Wyman rounds up the quartet by offering strategic analysis and operational insights to businesses across industries, enabling them to elevate their performance and streamline operations. By seamlessly integrating these distinct yet interrelated services, Marsh & McLennan effectively leverages risk to drive resilience and growth, capitalizing on its comprehensive offerings to generate revenue through consulting fees, brokerage commissions, and risk-transfer solutions. The company’s ability to harness its century-old legacy with contemporary insights establishes it as a pivotal player, adept at responding to the dynamic challenges of today’s global landscape.
Revenue Growth: Marsh reported total revenue of $27 billion for 2025, up 10%, with underlying revenue growth of 4%. Q4 revenue reached $6.6 billion, up 9%.
Profitability: Adjusted operating income for 2025 rose 11% to $7.3 billion, and adjusted EPS increased 9% to $9.75. Adjusted operating margin expanded for the 18th consecutive year.
Capital Returns: Marsh returned significant capital to shareholders, including a 10% dividend increase and $2 billion in share repurchases, the largest annual buyback in company history.
AI & Efficiency: The Thrive program is driving investments in AI, automation, and talent, aiming for $400 million in savings and greater efficiency across the business.
Market Conditions: Insurance and reinsurance rates decreased, especially in property lines, but demand increased in several areas. Casualty rates and healthcare costs are still rising.
Outlook 2026: Management expects underlying revenue growth, margin expansion, and EPS growth in 2026 to be similar to 2025, despite headwinds from pricing and interest rates.
Management
John Quinlan Doyle is a well-regarded business executive, best known for his role at Marsh & McLennan Companies Inc., a global professional services firm specializing in insurance brokerage, risk management, and consulting services. Doyle has had a significant impact on the company's operations and strategic direction. He joined Marsh, a subsidiary of Marsh & McLennan, and held several senior leadership roles, including President and Chief Executive Officer. His leadership has been pivotal in driving growth, innovation, and operational excellence within the company. Doyle's career at Marsh & McLennan has been marked by a focus on enhancing client solutions and expanding the firm's reach globally. Before his tenure at Marsh, Doyle had a distinguished career in the insurance industry, which positions him with a deep understanding of the industry's dynamics and challenges. Doyle's contributions to the field have been recognized widely, and he is respected for his strategic vision, leadership skills, and commitment to delivering value to clients. His educational background and professional experience have equipped him to navigate the complexities of the insurance and risk management sectors effectively.
He joined Marsh, a subsidiary of Marsh & McLennan, and held several senior leadership roles, including President and Chief Executive Officer. His leadership has been pivotal in driving growth, innovation, and operational excellence within the company. Doyle's career at Marsh & McLennan has been marked by a focus on enhancing client solutions and expanding the firm's reach globally.
Before his tenure at Marsh, Doyle had a distinguished career in the insurance industry, which positions him with a deep understanding of the industry's dynamics and challenges.
Doyle's contributions to the field have been recognized widely, and he is respected for his strategic vision, leadership skills, and commitment to delivering value to clients. His educational background and professional experience have equipped him to navigate the complexities of the insurance and risk management sectors effectively.
Mark Christopher McGivney is a notable business executive, recognized for his significant contributions to Marsh & McLennan Companies, Inc. He served as the Chief Financial Officer (CFO) of Marsh & McLennan, one of the world’s largest professional services firms in the areas of risk, strategy, and people. McGivney played a crucial role in overseeing the company's financial strategy, reporting, and management. Before becoming CFO, McGivney had considerable experience in various leadership positions within the company, including Senior Vice President of Corporate Finance. Before joining Marsh & McLennan, he held prominent roles in other organizations, such as The Hanover Insurance Group, where he gained extensive knowledge and expertise in the financial aspects of large enterprises. McGivney is known for his strategic insight, strong leadership skills, and ability to navigate complex financial landscapes, effectively contributing to the growth and profitability of Marsh & McLennan. His career reflects a commitment to financial excellence and strategic development within the corporate sector.
Before becoming CFO, McGivney had considerable experience in various leadership positions within the company, including Senior Vice President of Corporate Finance. Before joining Marsh & McLennan, he held prominent roles in other organizations, such as The Hanover Insurance Group, where he gained extensive knowledge and expertise in the financial aspects of large enterprises.
McGivney is known for his strategic insight, strong leadership skills, and ability to navigate complex financial landscapes, effectively contributing to the growth and profitability of Marsh & McLennan. His career reflects a commitment to financial excellence and strategic development within the corporate sector.
Dean M. Klisura is a prominent executive within the financial and professional services industry. He serves as the President and CEO of Guy Carpenter, a leading global risk and reinsurance specialist and a subsidiary of Marsh & McLennan Companies Inc. Klisura has played a significant role in shaping the direction and strategy of Guy Carpenter, focusing on delivering innovative solutions and driving growth across their international operations. Before his tenure at Guy Carpenter, he held several leadership roles within Marsh, another subsidiary of Marsh & McLennan, where he directly contributed to the company's success in areas such as risk management and insurance broking. His extensive experience in risk and insurance services has made him a respected leader in the industry.
Paul Beswick is a notable figure in the financial services industry and serves as the Chief Executive Officer (CEO) of Marsh & McLennan Companies Inc., a leading global professional services firm providing advice and solutions in the areas of risk, strategy, and people. With a long-standing career in the industry, Mr. Beswick is known for his strategic leadership and extensive experience in financial management. Before joining Marsh & McLennan, Beswick held several key positions within the financial services sector. His tenure at Marsh & McLennan is marked by significant contributions towards the company's growth and its strategic initiatives aimed at expanding its market presence and enhancing its service offerings across the globe. His leadership style emphasizes innovation, client-focused solutions, and operational excellence. Mr. Beswick's expertise is supported by a strong educational background in finance and business administration, along with a series of professional accolades that recognize his influential role in the sector. Under his leadership, Marsh & McLennan continues to navigate the complex and evolving landscape of global business risks and opportunities. Please verify any minor details from additional sources as this is a brief overview based on widely available information about Paul Beswick's professional background and role at Marsh & McLennan Companies Inc.
Before joining Marsh & McLennan, Beswick held several key positions within the financial services sector. His tenure at Marsh & McLennan is marked by significant contributions towards the company's growth and its strategic initiatives aimed at expanding its market presence and enhancing its service offerings across the globe. His leadership style emphasizes innovation, client-focused solutions, and operational excellence.
Mr. Beswick's expertise is supported by a strong educational background in finance and business administration, along with a series of professional accolades that recognize his influential role in the sector. Under his leadership, Marsh & McLennan continues to navigate the complex and evolving landscape of global business risks and opportunities.
Please verify any minor details from additional sources as this is a brief overview based on widely available information about Paul Beswick's professional background and role at Marsh & McLennan Companies Inc.
Jay H. Gelb is a notable executive associated with Marsh & McLennan Companies, Inc., a global professional services firm offering clients advice and solutions in risk, strategy, and people. As a CFA charterholder, Gelb brings a wealth of expertise to the organization, leveraging his extensive background in finance and risk management. Throughout his career, he has been recognized for his analytical ability and leadership qualities, contributing to strategic decision-making and enhancing the company's capability to manage complex market dynamics. His role typically involves working closely with various stakeholders to drive growth and innovation while ensuring adherence to the highest financial and ethical standards.
Katherine J. Brennan serves as the Chief Legal Officer and Corporate Secretary for Marsh & McLennan Companies Inc. In her role, she is responsible for overseeing the company's global legal, compliance, and public affairs functions. Brennan has a distinguished legal career, with extensive experience in corporate governance, regulatory compliance, and risk management. Before assuming her current position, she held various leadership roles within the company, contributing significantly to Marsh & McLennan's strategic objectives and legal framework. Brennan's expertise in legal affairs is complemented by her commitment to fostering a culture of integrity and ethical business practices. Her leadership extends beyond the legal domain as she actively engages in initiatives that support a diverse and inclusive workplace. Under her guidance, Marsh & McLennan continues to navigate complex legal landscapes while maintaining its reputation as a global leader in professional services.
Brennan's expertise in legal affairs is complemented by her commitment to fostering a culture of integrity and ethical business practices. Her leadership extends beyond the legal domain as she actively engages in initiatives that support a diverse and inclusive workplace. Under her guidance, Marsh & McLennan continues to navigate complex legal landscapes while maintaining its reputation as a global leader in professional services.
Jonathan "John" Jones is a distinguished executive at Marsh & McLennan Companies, Inc., a global professional services firm that provides advice and solutions in the areas of risk, strategy, and human capital. In his role, Mr. Jones has been instrumental in overseeing and implementing strategic initiatives that drive growth and innovation across the company's various operating businesses. Throughout his career at Marsh & McLennan, Mr. Jones has held several key leadership positions, where he has harnessed his expertise in risk management and strategic planning to enhance the firm's capabilities and expand its market presence. He is known for his visionary approach to business challenges, effectively aligning the firm's objectives with emerging industry trends and client needs. Adept at guiding teams through complex transformations, Mr. Jones is recognized for his strong leadership skills and his ability to foster a collaborative and forward-thinking work environment. His commitment to excellence and his focus on delivering value to clients have earned him a reputation as a trusted leader in the professional services industry. In addition to his responsibilities at Marsh & McLennan, Mr. Jones often participates in industry forums and contributes to thought leadership discussions, sharing insights on risk management, corporate strategy, and the evolving landscape of professional services. John Jones's impactful career at Marsh & McLennan reflects a deep commitment to innovation, leadership, and excellence in serving both the firm's clients and its internal stakeholders.
Throughout his career at Marsh & McLennan, Mr. Jones has held several key leadership positions, where he has harnessed his expertise in risk management and strategic planning to enhance the firm's capabilities and expand its market presence. He is known for his visionary approach to business challenges, effectively aligning the firm's objectives with emerging industry trends and client needs.
Adept at guiding teams through complex transformations, Mr. Jones is recognized for his strong leadership skills and his ability to foster a collaborative and forward-thinking work environment. His commitment to excellence and his focus on delivering value to clients have earned him a reputation as a trusted leader in the professional services industry.
In addition to his responsibilities at Marsh & McLennan, Mr. Jones often participates in industry forums and contributes to thought leadership discussions, sharing insights on risk management, corporate strategy, and the evolving landscape of professional services.
John Jones's impactful career at Marsh & McLennan reflects a deep commitment to innovation, leadership, and excellence in serving both the firm's clients and its internal stakeholders.
