Marsh McLennan said consolidated revenue for the 3 months ended September 30, 2024 rose 6% to $5.7 billion (5% on an underlying basis). Operating income increased $112 million (11%) to $1.1 billion, and diluted earnings per share were $1.51, compared with $1.47 a year earlier.

1. 01

   Marsh McLennan said consolidated revenue for the 3 months ended September 30, 2024 rose 6% to $5.7 billion (5% on an underlying basis). Operating income increased $112 million (11%) to $1.1 billion, and diluted earnings per share were $1.51, compared with $1.47 a year earlier.

2. 02

   The company said it agreed to acquire McGriff Insurance Services, LLC for total cash consideration of $7.75 billion on September 30, 2024. It is targeting closing by year-end and entered into a 364-day unsecured bridge term loan facility of up to $7.75 billion, paying approximately $23 million in upfront fees.

3. 03

   Marsh McLennan said that for the 3 months, Risk and Insurance Services revenue was $3.5 billion, up 8%, with operating income of $733 million compared with $640 million a year earlier. Consulting revenue was $2.3 billion, up 3%, and operating income was $462 million, compared with $424 million a year earlier.

4. 04

   The company repurchased 4.3 million shares for $900 million over 9 months, with about $2.3 billion remaining under its authorization, and paid dividends of $1.1 billion ($2.235 per share) over the same period. Restructuring activities that began in Q4 2022 are expected to total about $650 million, and about $540 million had been incurred through September 30, 2024.

Key figures

Quarter ended September 30, 2024

Revenue

$5.7B

Operating income

$1.1B

Net income

$747M

EPS

$1.51

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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