Marsh McLennan books 8% revenue growth to reach $24.5 billion

03 February 2025 Consulting.us

Marsh McLennan, a professional services firm focusing on risk, strategy, and people, reported 8% growth to reach $24.5 billion in revenue for the 12 months ending December 31, 2024.

The New York-headquartered firm is composed of four companies: Marsh (insurance); Guy Carpenter (reinsurance); Mercer (HR consulting and asset management); and Oliver Wyman (management consulting as well as economic consulting through sub-brand Nera and design and marketing services through Lippincott). The company has more than 90,000 people advising clients in 130 countries.

"Our fourth quarter results capped a terrific year for Marsh McLennan. We delivered on our strategic objectives, generated excellent financial performance, and had the largest year of acquisitions in our history,” John Doyle, president and CEO, said.

The company on in November completed a $7.75 billion acquisition of McGriff Insurance Services, a provider insurance broking and risk management services in the US. 

Marsh McLennan books 8% revenue growth to reach $24.5 billion

Marsh McLennan’s full-year growth was 7% on an underlying basis. Adjusted operating income rose 11% to $6.2 billion, while adjusted earning per share rose 10% to $8.80.

Marsh McLennan’s risk and insurance services business, which comprises Marsh and Guy Carpenter, had revenue of $15.4 billion in 2024, representing an increase of 9%, or 8% on an underlying basis. Adjusted operating income rose 13% to $4.6 billion.

Marsh’s revenue grew 10% (7% on an underlying basis) in 2024 to reach $12.5 billion, while Guy Carpenter’s revenue grew 5% (8% on an underlying basis) to $2.4 billion.

The consulting business, consisting of Mercer and Oliver Wyman, grew by 5% (or 6% underlying) to reach $9.1 billion in 2024. Adjusted operating income rose to 6% to $1.8 billion.

Mercer’s revenue grew 3% (or 5% underlying) to $5.7 billion, while Oliver Wyman grew revenue by 9% (or 6% underlying) to reach $3.4 billion.

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