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.
GC-Howden: Marsh McLennan reveals $70mn settlement over unlawful recruitment of employeesMarsh McLennan has reported that it settled a claim with an unnamed competitor earlier this month for $70mn related to the “unlawful recruiting” of a number of its employees in Europe, less than two weeks after this publication revealed Guy Carpenter and Howden had reached agreement in a high-profile dispute.
Marsh seeking flexibility to bring non-admitted solutions for clientsMarsh McLennan president and CEO John Doyle has responded to suggestions that his company is looking to formally return to the wholesale space by commenting that “we want to have the flexibility” to bring admitted or non-admitted solutions to clients.
Marsh McLennan beats EPS consensus and delivers 10% underlying growth in Q3Marsh McLennan saw adjusted earnings per share rise 33 percent year on year to $1.57 during the third quarter, comfortably beating analyst consensus of $1.39.
Facilitating the recovery in Ukraine: Marsh McLennan sets out framework for insurance solutionsOne of the most significant industry initiatives to be unveiled this year was Marsh McLennan’s proposal for the creation of a multinational public-private partnership centred around a war-risk pool to underpin project financing for Ukraine’s recovery and reconstruction.
Moody’s upgrades MMC’s senior debt to A3Marsh McLennan’s “steady” revenue and earnings growth and expectations that the firm’s financial leverage will remain close to its current level have led Moody’s Investors Service to upgrade the broking giant’s senior unsecured debt rating to A3 from Baa1.
Marsh McLennan’s MMA confirms deal to buy top-100 agency Graham CompanyMarsh McLennan Agency has struck a deal to acquire $75mn-revenue privately-held agency Graham Company, confirming The Insurer’s reporting last week that Marsh McLennan was imminently set to purchase one of the last large independent agencies in the US.
Marsh McLennan ups FY organic growth forecast to high single digitsMarsh McLennan has raised its full-year underlying revenue growth forecast from mid- to high single digits after delivering higher-than-expected organic growth of 11 percent in the second quarter.