Marsh McLennan News

Marsh McLennan Beats Q2 Profit Estimates on Higher Interest Income

Marsh McLennan reported second-quarter profit above expectations on Thursday, bolstered by the higher interest the company earned from client funds. The company reported a profit of $2.20 per share, excluding one-time costs, for the three months ended June 30. Analysts …

Marsh McLennan to Work With Ukraine to Provide Access to Global Insurance Market

Marsh McLennan, the professional services firm in the areas of risk, strategy and people, today announced that it will work with the Ukrainian government to help it unlock access to the global insurance market. As part of the support, it …

Broker Sues Over Unethical ‘Raid’ of 38 Staff in UK Poaching Row

Marsh & McLennan Cos.’s reinsurance broker sued a London rival, saying it secretly planned an unethical “raid” of 38 people across Europe, in the latest lawsuit to pore over clandestine staff poaching allegations. Guy Carpenter & Co. said that its …

Marsh McLennan Reports ‘Strong Start’ to Year With Restructuring Program on Track

Marsh McLennan Companies Inc. reports “a strong start” to 2023, generating 9% underlying revenue growth in the first quarter on top of 10% growth in the first quarter of last year, according to John Doyle, president and chief executive officer. …

Marsh McLennan Names Tomlinson CEO for U.S. and Canada

Marsh McLennan said it has named Pat Tomlinson CEO of U.S. and Canada. He, along with Flavio Piccolomini, who was appointed International CEO, will report to Mercer President and CEO Martine Ferland and Marsh President and CEO Martin South as …

January Reinsurance Renewals Were Most Challenging in 2 Decades: MMC’s Doyle

The most challenging January reinsurance renewals in nearly two decades saw global property catastrophe rate increases of 25% to 60% with loss-affected clients facing even higher prices, according to John Doyle, president and chief executive officer of Marsh McLennan Cos. …

Inflation, Debt Crisis, Cost of Living Pose Top Business Risks in G20 Nations: Survey

Runaway inflation, an unfolding debt crisis and cost-of-living problems pose the biggest threats to doing business for G20 countries in the next two years, data from the World Economic Forum showed on Monday. Inflation has surged to levels not seen …

Marsh McLennan Acquires Texas-Based Focus

Marsh McLennan Agency (MMA), a subsidiary of Marsh, announced the acquisition of Focus Insurance, a leading personal insurance brokerage firm based in Houston, Texas. Terms of the acquisition were not disclosed. Founded in 2001, Focus Insurance specializes in customized personal …

Property Cat Market to Harden More; Possible ‘Significant Supply Imbalance’: MMC’s Doyle

While the total impact of Hurricane Ian won’t be realized for some time, the effect on an “already stressed property market will be significant,” said John Q. Doyle, group president and COO of Marsh McLennan. “At mid-year reinsurance renewals, the …

Marsh McLennan CEO Glaser to Retire; Doyle to Take the Reins in 2023

Marsh McLennan said today that John Q. Doyle will take over as president and CEO effective January 1, at which point current CEO Daniel S. Glaser will retire. Doyle, 58, was promoted to group president and chief operating officer of …