Marsh & McLennan Companies, Inc.'s (MMC) Marsh McLennan Agency ("MMA"), a division of MMC's Marsh business, recently closed the buyout of Mississippi-based Fisher Brown Bottrell Insurance, Inc. (FBBINSURANCE). An agreement to acquire FBBINSURANCE was inked by MMA with Trustmark National Bank in April and was completed within the targeted timeline of the second quarter of 2024. Per the terms of the deal, Marsh McLennan Agency will pay a cash consideration of $315.9 million, subject to customary purchase pric ...

Marsh & McLennan Companies, Inc. (MMC) unit Marsh recently acquired Texas-based Perkins Insurance Agencies through its Marsh McLennan Agency subsidiary. The acquiree offers commercial property and casualty and personal lines coverage to businesses, families, non-profits and others in West Texas. Perkins Insurance, established in 1977, has developed specialized expertise in the farm and ranch, oil and gas, restaurant and trucking sectors. Financial terms of the deal are yet to be disclosed. Employees of the ...

Core Insights - The report by Oliver Wyman emphasizes the transformative impact of generative AI on leisure travel planning, indicating a growing reliance on AI tools among travelers [1][2] Industry Trends - The use of AI for itinerary planning and trip inspiration has risen to 41% among Canadians and Americans, up from 34% in August 2023, showcasing a significant trend towards AI integration in travel [2] - Online travel agencies (OTAs) have a potential opportunity to increase their booking share by up to 17 percentage points by 2029 if they invest in AI capabilities, which could lead to over $2 billion in commission revenues from suppliers [2] Company Performance - Oliver Wyman's revenues reached $789 million, reflecting a 13% increase on an underlying basis in Q1 2024, indicating strong performance and growth potential [3] - The report may facilitate partnerships with travel companies, enhancing Oliver Wyman's advisory business and attracting new clients [3] Consumer Behavior - A significant 82% of travelers using AI tools are expected to continue using them in the future, highlighting the growing acceptance and reliance on AI in travel planning [5] - The survey revealed that 59% of travelers under 45 and 31% of those over 45 are utilizing AI tools for travel planning, indicating a broad demographic engagement with AI [6] - Over 90% of travelers use AI for booking travel plans, with 44% booking activities and 43% using AI for dining suggestions, demonstrating the extensive application of AI in various aspects of travel [6]

Core Insights - Generative AI is transforming leisure travel planning, with a significant increase in usage among consumers just ahead of summer [1][2] Consumer Adoption - 41% of surveyed Americans and Canadians have utilized generative AI for trip inspiration or itinerary planning, up from 34% in August 2023 [2] - 82% of travelers who used generative AI tools are likely to use them again for future travel plans [6] - Younger travelers under 45 years old show a higher adoption rate at 59%, while 31% of travelers aged 45 and older also use these tools [6] Market Potential - Online travel agencies (OTAs) could increase their share of the US online travel market by up to 17 percentage points by 2029 if travel suppliers do not invest in generative AI capabilities, potentially generating over $2 billion in additional commissions for OTAs [2] Consumer Satisfaction - Over three-quarters of consumers are satisfied with the travel recommendations provided by generative AI tools, leading to high conversion rates for bookings based on AI suggestions [6] - 44% of users who booked generative AI-produced travel plans followed through with booking specific activities, and 43% booked dining suggestions recommended by the tool [6] Loyalty and Engagement - 45% of elite loyalty members of travel brands have recently used generative AI for trip planning, indicating a strong affinity for these tools among loyal customers [6] - Generative AI is particularly popular among cruise travelers, with 54% of respondents who have taken a cruise since 2022 using it for travel planning [6]

Marsh & McLennan Companies, Inc. (MMC) is well-poised for growth on the back of sustained demand for its products, new business growth, frequent acquisitions and a commendable financial position. Zacks Rank & Price Rally Marsh & McLennan currently carries a Zacks Rank #3 (Hold). The stock has gained 16.8% in the past year compared with the industry's 10.5% rise. Rising Estimates The Zacks Consensus Estimate for Marsh & McLennan's 2024 earnings is pegged at $8.71 per share, indicating a 9% increase from the ...

JHVEPhoto/iStock Editorial via Getty Images Marsh & McLennan Companies (NYSE:MMC) is a global professional services corporation with businesses spanning insurance brokerage, risk management, human resources, investment advisory, management consulting, and reinsurance, among others. The firm primarily conducts its operations through four primary businesses; Marsh, which provides insurance brokerage and risk management services; Guy Carpenter, which comprises MMC's reinsurance business; Mercer, representi ...

Risk analysis conducted by the newly formed National Commission on Climate and Workforce Health highlights need to bolster people, business, and economic resilience CEOs acknowledge extreme weather will be one of the most critical threats to their businesses in the next year. Yet only 17% of CEOs have invested in strategies to better protect employees from climate health risks. Exposure to more frequent extreme heat, poor air quality and unprecedented weather events directly impacts physical and mental heal ...

16 8. Acquisitions and Dispositions The Company's acquisitions have been accounted for as business combinations. Net assets and results of operations are included in the Company's consolidated financial statements commencing at the respective purchase closing dates. In connection with acquisitions, the Company records the estimated values of the net tangible assets and the identifiable intangible assets purchased, which typically consist of customer relationships, developed technology, trademarks and non-co ...

Marsh & McLennan Companies, Inc. (MMC) reported first-quarter 2024 adjusted earnings per share of $2.89, which surpassed the Zacks Consensus Estimate by 3.6%. The bottom line improved 14% year over year. Its shares gained 2.7% in the pre-market trading session to reflect the outperformance.Consolidated revenues of $6.5 billion advanced 9% year over year in the quarter under review. The figure also rose 9% on an underlying basis. Also, the top line beat the consensus mark by 1.5%.The quarterly results were a ...

Marsh & McLennan Companies, Inc. (NYSE:MMC) Q1 2024 Earnings Conference Call April 18, 2024 8:30 PM ET Company Participants John Doyle - President & Chief Executive Officer Mark McGivney - Chief Financial Officer Martin South - Chief Executive Officer, Marsh Dean Klisura - Chief Executive Officer, Guy Carpenter Nick Studer - Chief Executive Officer, Oliver Wyman Pat Tomlinson - Chief Executive Officer, Mercer Conference Call Participants David Motemaden - Evercore ISI Jimmy Bhullar - JPMorgan Elyse Greenspa ...