Marsh & McLennan Companies, Inc.’s (MMC) Marsh McLennan Agency (“MMA”), a division of MMC’s Marsh business, recently closed buyouts of two middle-market agencies of Louisiana, Querbes & Nelson (“Q&N”) and Louisiana Companies. The terms of the deal have been kept under wraps.The twin buyouts are expected to strengthen the capabilities of MMA as well as solidify its presence significantly across Louisiana. The acquired companies seem to be prudent picks for buyouts by MMA owing to their longstanding history o ...

Marsh & McLennan Companies, Inc.’s (MMC) sub-unit from the Consulting segment, Mercer, recently introduced Mercer SelectRx in a bid to generate higher savings on specialty drug expenses for employers and their employees.The new product leverages the proprietary and cloud-based technology platform of Free Market Health and is also built with the power to offer transparency on specialty pharmacy pricing. Specialty prescriptions are directed to the platform consequent to which a comparison is made among an org ...

WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Marsh McLennan Agency (MMA), a subsidiary of Marsh, today announced that it has completed its previously announced acquisitions of two Louisiana-based middle-market agencies, Querbes & Nelson (Q&N) and Louisiana Companies. Terms of the transactions were not disclosed. With the closing of these acquisitions, MMA has doubled its presence in Louisiana. Kevin Briggs is now CEO of Louisiana Companies and Q&N, Mike Belanger is now President and Chief Sales Officer of Q&N, and ...

LONDON--(BUSINESS WIRE)--Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, together with the Ukrainian government and Lloyd’s, today announced a major expansion of its Unity insurance facility. Unity now provides affordable war risk insurance for ships carrying all non-military cargo – such as iron ore, steel, and containerised shipping – and underpins Ukraine’s wider maritime export ecosystem. Launched in November 2023 to provide afford ...

NEW YORK--(BUSINESS WIRE)--Mercer, a global leader in unlocking real health and well-being and a business of Marsh McLennan (NYSE: MMC), today launched Mercer SelectRx, an exclusive product offering that leverages Free Market Health’s proprietary, cloud-based technology platform to drive competition among specialty pharmacies for high-cost specialty medications and savings for employers and their employees. Prescription medications have been the fastest-growing component of employee health benefit costs ...

Chicago, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Insights revealed today from FMI – The Food Industry Association, Oliver Wyman and Circana demonstrate new opportunities for food industry trading partners to cater to shoppers' expanding definitions of value. The research, Finding Growth for Food & Beverage at Retail: Winning Eating Occasions throughout the Day, supports go-to-market strategies and ways in which grocers can attract more shopper relevance regarding needs, experiences, tastes, rewards, health – and ...

NEW YORK, Feb. 28, 2024 /PRNewswire/ -- The commercial aviation fleet is projected to grow 28% over the next 10 years, expanding from today's 28,400 aircraft to 36,400 by 2034, according to a new report from consulting firm Oliver Wyman, a business of Marsh McLennan (NYSE:MMC). The data come from the 24th edition of the Global Fleet and MRO Market Forecast 2024-2034. "Having clawed its way back from COVID, the industry is finally out of recovery mode and on a growth trajectory," said Anthony DiNota, Vice Pr ...

WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Marsh McLennan Agency (MMA), a subsidiary of Marsh, today announced that it signed agreements to acquire two Louisiana-based middle-market agencies, Querbes & Nelson (Q&N) and Louisiana Companies, doubling the firm’s presence in the state. Based in Shreveport, Q&N was founded in 1914 and offers business insurance, employee benefits, and alternative risk financing consulting to a variety of businesses with specific expertise in energy services, commercial contractors, ...

NEW YORK--(BUSINESS WIRE)--Marsh McLennan (NYSE: MMC) (the “Company”) announced today that it has priced $500,000,000 aggregate principal amount of its 5.150% Senior Notes due 2034 (the “2034 Notes”) and $500,000,000 aggregate principal amount of its 5.450% Senior Notes due 2054 (the “2054 Notes” and, together with the 2034 Notes, the “Notes”). The Company intends to use the net proceeds from the Notes offering for general corporate purposes. The closing of the Notes offering is expected to occur on Februar ...

Revenue and Financial Performance - Mercer generated approximately 24% of the Company's total revenue in 2023[40] - Oliver Wyman Group generated approximately 14% of the Company's total revenue in 2023[48] - Receivables for commissions and fees as of December 31, 2023, were approximately $5.8 billion, representing about one-quarter of the company's total annual revenues[153] - The company's total consolidated debt outstanding as of December 31, 2023, was approximately $13.5 billion[165] - Approximately 53% of the company's total revenue in 2023 was generated from operations outside the U.S.[168] - The Risk and Insurance Services segment represented 62% of the company's total revenue in 2023[170] - The Consulting segment represented 38% of the company's total revenue in 2023[176] - Other compensation from insurance companies, separate from retail fees and commissions, represented approximately 6% of Marsh's revenue in 2023[175] Business Operations and Market Presence - Mercer and its global affiliates had assets under management of approximately $420 billion worldwide as of December 31, 2023[44] - Mercer has approximately 24,500 colleagues based in 48 countries[40] - Oliver Wyman Group has more than 6,800 professionals and offices in over 30 countries[48] - Mercer provides consulting and actuarial services to U.S. state governments for healthcare purchase through state Medicaid programs[42] - Mercer's Wealth business assists clients worldwide in the design, governance, and risk management of retirement plans and other asset pools[42] - Oliver Wyman Group's NERA Economic Consulting provides economic analysis and advice to public and private entities on complex business and legal issues[51] Risks and Challenges - The Company's Risk and Insurance Services segment is subject to significant uninsured exposures arising from errors and omissions and breach of fiduciary duty claims[97] - The Company faces risks related to public and private capital market fluctuations, third-party asset managers, and regulatory compliance in Mercer's Wealth business[94] - Compliance with U.S. and foreign laws and regulations requires significant resources and may increase costs, negatively impact revenues, or impose operational limitations on the company[100] - The company faces potential legal and regulatory liabilities from acquired companies, as outlined in Note 16 of the consolidated financial statements[103] - Cybersecurity risks, including data breaches and system vulnerabilities, could result in significant financial and reputational harm[106][109] - The company is subject to evolving privacy and data protection laws, such as GDPR and CCPA, which could lead to regulatory scrutiny, fines, and reputational damage[115][117] - The company relies on third-party vendors for technology and support, and failures by these vendors could disrupt operations and harm the business[124][144] - The company faces intense competition for talent, which could impact its ability to attract and retain key employees[129] - Increasing scrutiny of ESG practices and disclosures may impose additional costs and expose the company to new risks[132][134] - The competitive landscape is evolving, with competitors potentially having greater financial resources or technological advantages[138][141] - The company's goodwill and intangible assets are significant, and any impairment could materially affect its financial results[150] - The company is exposed to risks from geopolitical conflicts, such as the war in Ukraine, which may result in new trade sanctions and increased operational limitations[100] - Mercer's Wealth business faces risks including market fluctuations, third-party dependencies, and regulatory compliance, which could significantly damage the business[177] - Mercer's Investments business is exposed to risks such as litigation, market volatility, and potential greenwashing accusations, which could lead to significant liability[177] - Clients reducing consulting expenses during economic downturns may adversely affect Mercer's revenues and profitability[179] - Defined benefit pension plan clients freezing or curtailing plans could lead to reduced revenue for Mercer's retirement business[182] - Mercer's actuarial services involve complex assumptions and estimates, which could lead to client dissatisfaction and claims[182] - Declining utilization rates for consulting professionals could negatively impact Mercer's revenues and profitability[185] Cybersecurity and Risk Management - Mercer's cybersecurity risk management program involves cross-functional teams to mitigate risks, including third-party vendor risks[188] - The Board of Directors oversees Mercer's risk management, including cybersecurity, with regular updates from management[191] - No material cybersecurity threats or incidents were identified in 2023, but risks cannot be entirely eliminated[194] Financial Market and Regulatory Exposure - The company's senior debt is rated A- by S&P, A3 by Moody's, and A- by Fitch, with a Stable outlook[163] - The company is exposed to exchange rate fluctuations due to 53% of its total revenue being generated from non-U.S. operations[160] - The company's defined benefit pension plan obligations are sensitive to financial market changes, which could cause significant fluctuations in earnings and cash flow[156][159] - The company's effective tax rate may fluctuate due to the current U.S. tax regime, including provisions like GILTI and BEAT[167]