Doyle: McGriff acquisition expected to be “modestly accretive” in first yearMarsh McLennan president and CEO John Doyle has said the $7.75bn acquisition of McGriff Insurance Services is expected to be “modestly accretive” to adjusted earnings per share excluding amortisation in year one, and more meaningfully so after that.
Marsh McLennan beats EPS consensus but underlying growth slows to 5%Marsh McLennan beat earnings consensus during the third quarter of 2024 as it reported underlying growth of 5 percent.
Marsh McLennan’s MMA to acquire retailer McGriff from TIH in $7.75bn cash dealMarsh McLennan has struck a deal to acquire TIH-owned retailer McGriff Insurance Services in a deal that values the intermediary at $7.75bn.
MMC study finds high correlation between dark web activity and cyber insurance loss frequencyThere is a “statistically significant” correlation between dark web intelligence sources and the likelihood of a cyber insurance claim following a cyber attack, a new report by Marsh McLennan has found.
Aon and Marsh McLennan issue united call for (re)insurers to support Ukraine’s recoveryBrokers Aon and Marsh McLennan have made a united call for the (re)insurance sector to remove blanket exclusions to support Ukraine’s recovery from the conflict with Russia.
Marsh McLennan and Zurich call for PPPs to manage unquantifiable cyber riskMarsh McLennan and Zurich have called for the cyber insurance market to close the ~$0.9trn protection gap through the creation of public-private partnerships to manage unquantifiable cyber risks.
Harvard's suit against insurance broker over affirmative action case coverage narrowedAugust 15 (Reuters) by Nate Raymond – A federal judge on Thursday dismissed part of a lawsuit by Harvard University accusing a broker of botching the school's claim for up to $15 million in insurance coverage to help pay its legal bills in the case that led the U.S. Supreme Court to bar the consideration of race as a factor in college admissions.
MMA promotes Watkins to upper midwest regional CEOMarsh McLennan Agency (MMA) has promoted Ryan Watkins, president of its upper midwest region, to the role of regional CEO.
Marsh McLennan expects better H2 margin expansion as RIS continues strong growth recordMarsh McLennan’s leadership has reiterated its full-year outlook for mid-single-digit or better underlying growth and strong growth in adjusted earnings per share, as well as its expectation that margin expansion will be better in H2.
Marsh McLennan underlying revenue growth slows to 6% despite strong GC showingSlowing organic growth in consulting contributed to Marsh McLennan’s group-wide underlying revenues rising 6 percent in the second quarter, down from 9 percent in Q1 and 11 percent in the prior-year period, despite underlying growth at Guy Carpenter accelerating to 11 percent.
Marsh McLennan adds former Cognizant CFO Siegmund as directorMarsh McLennan has appointed Jan Siegmund as director, taking the firm’s total number of board directors to 12.
Marsh McLennan Agency acquires NJ-based Hudson Shore GroupMarsh McLennan Agency, the middle-market subsidiary of Marsh, has acquired Hudson Shore Group, a public and private sector employee benefits broker based in Red Bank, New Jersey.
Aon and Marsh McLennan use same legal team to fight Howden in the London courtsAon and Marsh McLennan have put aside their traditional rivalry and are using the same legal practices in their pursuit of competitor Howden in the London courts over the recent mass recruitment of their reinsurance staff, research by The Insurer demonstrates.
Doyle: Marsh not looking to build third-party wholesaler at Victor AccessMarsh McLennan CEO John Doyle has stated that the firm is not looking to build a third-party wholesale business after recently launching the Victor Access brand to improve direct access to the E&S market.
Marsh McLennan shares up 4% on strong organic growth-driven earnings beatShares in Marsh McLennan rose 4 percent on Thursday morning after the firm reported an earnings beat that included better-than-expected organic growth and adjusted operating income in its Risk and Insurance Services division, along with projections of stronger margin expansion in H2 2024.
Marsh McLennan eyes further M&A after active 2023 for acquisitionsMarsh McLennan is eyeing further M&A this year after 2023 was its most active for acquisitions in nearly two decades – aside from 2019 when it acquired JLT – as it deployed $1.6bn of cash to buy companies including middle market broker Graham Company and Australian intermediary Honan.
Doyle: Marsh McLennan exploring Ukraine air travel facilityMarsh McLennan is looking to apply the framework of the Unity grain facility to help facilitate the reopening of an airport in Ukraine to encourage foreign private investment as part of the country’s reconstruction efforts, according to CEO John Doyle.
Marsh McLennan discusses war risk insurance for Ukrainian air travelUkraine’s National Security and Defense Council has consulted with Marsh McLennan and Oliver Wyman on war risk insurance for air transport as part of the country’s wider transformation and recovery strategy.
Lloyd’s marine insurers and Marsh McLennan critical to Zelensky’s imminent new Ukraine grain export schemeA number of Lloyd’s and London market marine insurers – including Ascot and Markel – have committed to supporting a groundbreaking partnership with the Ukrainian government that is expected to be unveiled later this month, The Insurer can reveal.
Marsh McLennan to delist from London Stock ExchangeMarsh McLennan has filed a notice with the Financial Conduct Authority notifying its intention to cancel the standard listing of its ordinary shares on the London Stock Exchange.