Revenue Growth and Financial Performance
Marsh & McLennan Companies, Inc. reported a third-quarter revenue increase of 11% to $6.4 billion, with underlying growth of 4%. Adjusted operating income increased 13%, and adjusted EPS grew 11% to $1.85.
Branding Strategy and Thrive Program
The company announced a rebranding strategy to simplify its name to Marsh and introduced the Thrive program, expected to generate approximately $400 million in savings while incurring $500 million in charges.
AI and Technology Innovations
Marsh & McLennan invested in AI and large language models, introducing tools like Len.ai and Mercer's AIDA to enhance productivity. The Thrive program will focus on automation and technology to drive efficiency.
Expansion and Market Presence
The company increased its global presence with strong international growth, including 6% growth in Asia Pacific and 5% in EMEA. Oliver Wyman's revenue was up 8% on an underlying basis.