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Marsh & McLennan Companies Inc. (MMC-0.19%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's operations through its two main segments: Risk and Insurance Services, which includes Marsh and Guy Carpenter, and Consulting, which includes Mercer and Oliver Wyman Group.
The Risk and Insurance Services segment reported revenue of $15.4 billion, an increase of 9% from the previous year, with Marsh contributing $12.5 billion and Guy Carpenter contributing $2.4 billion.
The Consulting segment reported revenue of $9.1 billion, a 5% increase from the previous year, with Mercer contributing $5.7 billion and Oliver Wyman Group contributing $3.4 billion.
The company completed 17 acquisitions in 2024, including the significant acquisition of McGriff Insurance Services, LLC for $7.75 billion.
Marsh & McLennan Companies Inc. reported a consolidated operating income of $5.8 billion, an increase of 10% compared to 2023.
Net income attributable to the company was $4.1 billion, with diluted earnings per share increasing to $8.18 from $7.53 in the previous year.
The company repurchased 4.3 million shares of its common stock for $900 million during the year.
The filing also highlights the company's focus on restructuring activities, which included severance and lease exit charges, totaling $276 million in 2024.
The report outlines the company's pension obligations, with contributions of $34 million to its U.S. defined benefit pension plans and $59 million to its non-U.S. defined benefit pension plans in 2024.
Marsh & McLennan Companies Inc. continues to face risks related to geopolitical and macroeconomic conditions, cybersecurity threats, and regulatory changes, as detailed in the risk factors section of the filing.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Marsh & McLennan Companies Inc. annual 10-K report dated February 10, 2025. To report an error, please email earnings@qz.com.