Marsh & McLennan Cos., Inc.

Solid Q1 Performance: Marsh McLennan reported a 9% increase in consolidated revenue for Q1 2025, reaching $7.1 billion, with adjusted EPS growing 5% to $3.06. Underlying revenue growth was 4%, driven by contributions from acquisitions and a broad performance across all four business segments. Marsh, Guy Carpenter, Mercer, and Oliver Wyman all exhibited positive growth rates of 5%, 5%, 4%, and 4%, respectively.

Challenging Macroeconomic Conditions: The company acknowledged a more uncertain global economic outlook, marked by reduced consumer and business confidence due to ongoing trade negotiations and market volatility. This has the potential to impact GDP growth, inflation, and interest rates, which could, in turn, weigh on future revenue.

Insurance Market Trends: The Marsh Global Insurance Market Index indicates a 3% decrease in rates in Q1, with global property rates declining 6% year-over-year. However, casualty rates increased 4%, particularly in the U.S. and excess casualty, which rose by approximately 16%. The overall trend points to a competitive market environment despite the recent catastrophic events.