MMC

Marsh McLennan reports “outstanding” Q2 results with 13% organic growth

Marsh McLennan has reported underlying growth of 13 percent for the second quarter while adjusted earnings per share of $1.75 came in comfortably ahead of analyst forecasts, with president and CEO Dan Glaser describing the results as “outstanding”.

Marsh McLennan suffered data breach in April

Marsh McLennan was hit by a data breach in April in which social security numbers and other personal information of current and former staff and clients were accessed.

MMC names newly appointed Oliver Wyman CEO Studer vice chairman

Nick Studer has been appointed president and CEO of management consulting arm Oliver Wyman while the executive has also taken on the role of vice chairman at parent Marsh McLennan.

Berkshire Hathaway buys 1.8% Aon stake in further broker sector bet

Berkshire Hathaway took a 1.8 percent stake in Aon in Q1 then valued at $942.6mn and increased its holding in Marsh McLennan as the investment giant further demonstrated its enthusiasm for the insurance distribution sector.

Marsh McLennan receives Lord Mayor’s Dragon Award for social impact

Marsh McLennan has been recognised for the social impact achieved through its support for the British Red Cross’ Surviving to Thriving (STT) initiative.

KBW: Marsh McLennan benefiting from “prolonged” Aon-WTW deal

Marsh McLennan is benefiting from the uncertainty surrounding rival Aon’s $30bn takeover of Willis Towers Watson (WTW), according to KBW analysts, as reflected by the broking group’s strong Q1 organic growth of 6 percent.

Increases moderate to 18% on Marsh Global Insurance Market Index in Q1

The Marsh Global Insurance Market Index showed year-over-year price increases in Q1 of 18 percent, marking a slowdown from the 22 percent recorded in Q4 2020 and bringing an end to 11 straight quarters of acceleration.

Marsh McLennan shares up 4% on strong organic growth

Marsh McLennan shares closed up 4 percent on Tuesday (27 April) after the firm reported strong Q1 organic growth of 6 percent while president and CEO Dan Glaser said the group now expects full-year 2021 underlying growth at the high end of its previous 3-5 percent guidance “and possibly above”.

Marsh and Guy Carpenter drive 6% organic growth at Marsh McLennan

Marsh McLennan generated underlying revenue growth of 6 percent at the group level in the first quarter, driven by organic growth of 8 percent at Marsh and 7 percent at Guy Carpenter.

Moody’s takes Marsh McLennan debt ratings off negative outlook

Moody’s Investors Service has changed the outlook on Marsh & McLennan Companies’ senior debt rating to stable from negative, with the agency expecting the company to reduce its financial leverage toward historical levels by the end of 2021.

Willis Re argues Aon merger not relevant to Guy Carp LatAm hires dispute

Willis Re has hit back at antitrust claims in its dispute with Guy Carpenter and former members of its Latin American team, with the Willis Towers Watson subsidiary arguing the pending merger with Aon is not relevant to the litigation.

Howden hires Guy Carp’s Bradley Maltese in statement of reinsurance intent

Howden has made a bold swoop for senior Guy Carpenter executive Bradley Maltese, who has resigned from the Marsh McLennan subsidiary and is expected to take the helm at the London-headquartered group’s fast-growing reinsurance arm, The Insurer can reveal.

Lockton’s swoop for WTW Florida team highlights litigious war for broker talent

When Marsh McLennan group CEO Dan Glaser made his audacious – and successful – approach to JLT in 2018, he ignited the touch-paper on a war for broking talent that has continued unabated for the past few years.

Marsh McLennan backs new Spanish broker Asterra led by WTW defectors

Marsh McLennan has entered a joint venture with a team led by Alberto Gallego, the former chief executive of Willis Towers Watson Iberia, to launch a new broking platform in Spain called Asterra, The Insurer can reveal.

Marsh & McLennan Companies rebrands to Marsh McLennan

Marsh & McLennan Companies (MMC) has changed its name to Marsh McLennan.

A new look to celebrate being 150 years old…

If 24-hour news and social media existed 150 years ago, then the roll call of cats, conflict and rapid political change would have gripped the watching world.

Marsh drops JLT in specialty unit rebrand

Marsh JLT Specialty is to rebrand and drop JLT from its title – becoming Marsh Specialty – just under two years after Marsh & McLennan Companies (MMC) completed its £4.3bn takeover of its smaller rival.

AIG shares trade up after Berkshire Hathaway link

Berkshire Hathaway’s in-house P&C insurance business is credited by Warren Buffett as the “engine” that has propelled the investment giant’s growth since 1967, when it entered the sector. But the recent $499mn investment in MMC and recent Wall Street rumours about a separate stake-building in AIG hints at a cycle play as the company looks for value elsewhere in the sector.

MMC commitment to de-levering and dividend should dispel unrealistic M&A rumour

As the Aon-Willis Towers Watson deal continues to grind through the regulatory approval process, there has been plenty of speculation about how the other member of the big three brokers will respond.

Berkshire Hathaway buys $499mn stake in MMC

Berkshire Hathaway has taken a $499mn stake in Marsh & McLennan Companies (MMC) after buying almost 4.3 million shares in the broking giant during 2020’s fourth quarter.

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