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Companies / Financials / Marsh McLennan
MRSH

Marsh McLennan

FinancialsInsuranceS&P 500
Ticker MRSHNEW YORK, NYFiscal year ends DecemberBook value per share $31.37Diluted shares 484.0M

Marsh & McLennan Companies, Inc. is a global leader in risk, reinsurance and capital, people and investments, and management consulting. The company operates through two primary segments: Risk and Insurance Services, which accounts for approximately 64 percent of total revenue, and Consulting, which represents… From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$26.98BFY2025
+10.3% year over year
Last 12 mo $27.95B
23.06%FY2025
−0.7 percentage points
Last 12 mo 21.62%
$4.23BFY2025
+2.8% year over year
Last 12 mo $4.07B
27.55%FY2025
−2.9 percentage points
Last 12 mo 26.21%
Cash & financing
$5.29BFY2025
+23.0% year over year
Last 12 mo $5.08B
$5.00BFY2025
+25.5% year over year
Last 12 mo $4.77B
1.30FY2025
Was 1.50× a year earlier
Last 12 mo 1.35
494.0MFY2025
−0.4% year over year
Last 12 mo 484.0M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Marsh McLennan does

In the company’s own words

Marsh & McLennan Companies, Inc. is a global leader in risk, reinsurance and capital, people and investments, and management consulting. The company operates through two primary segments: Risk and Insurance Services, which accounts for approximately 64 percent of total revenue, and Consulting, which represents approximately 36 percent of revenue.

The Risk and Insurance Services segment comprises Marsh Risk and Guy Carpenter. Marsh Risk is the world's leading insurance broker and risk advisor, offering risk management, insurance broking, insurance program management, risk consulting, and alternative risk financing services across 130 countries. The segment includes Marsh McLennan Agency (MMA), which provides business insurance, employee health and benefits, retirement and wealth management solutions, and has completed more than 135 acquisitions since 2009. Guy Carpenter operates as the company's reinsurance intermediary and advisor, providing specialized reinsurance broking, strategic advisory, actuarial services, and analytics solutions globally.

The Consulting segment operates through Mercer and Marsh Management Consulting. Mercer delivers advice, solutions and products addressing health, wealth, and career needs of organizations and their workforces, managing approximately 692 billion dollars in assets worldwide. Marsh Management Consulting comprises Oliver Wyman, a management consulting firm specializing in actuarial, AI transformation, climate and sustainability, customer innovation, finance, risk and restructuring, and mergers and acquisitions services; Lippincott, which specializes in brand strategy and design; and NERA Economic Consulting, providing economic analysis for complex business and legal issues.

As of December 31, 2025, the company employed more than 95,000 colleagues worldwide, with approximately 55,700 in Risk and Insurance Services and 29,100 in Consulting. The company generated annual revenue of 27 billion dollars and serves clients in 130 countries. Marsh operates through major brands including Marsh Risk, Guy Carpenter, Mercer, Oliver Wyman, Lippincott, and NERA Economic Consulting. The company's website is www.corporate.marsh.com.

Company details
Sector
Financials
Industry (SIC)
Insurance
Headquarters
NEW YORK, NY
Fiscal year end
December
CIK
62709
SIC
6411

Financial performance, year by year

Fiscal 2013–2025 · USD
$-2.79B$5.59B$13.97B$22.36B$30.74B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Marsh McLennan — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

930
funds hold it
2 of 35
superinvestors hold it
$34.15B
held by funds, at market
43.1%
of shares held by funds
27
bond issues held by funds

Superinvestors in Marsh McLennan · what they did last quarter

Bill NygrenINCREASED +68.1%
Harris Associates (Oakmark)
1.9%of 13F portfolio
Tom GaynerUNCHANGED
Markel Group (Markel-Gayner)
1.0%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · Marsh McLennan’s weight in each

—of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.11%of fund net assets
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.12%of fund net assets
iShares Core S&P 500 ETF
IVV · iShares Trust
0.12%of fund net assets
Fidelity 500 Index Fund
FXAIX · Fidelity Concord Street Trust
0.12%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Marsh McLennan’s bonds, as funds hold them

Funds report holding 27 issues of Marsh McLennan’s debt, $3.06B at market value — what funds hold, not the company’s total debt. Weighted-average coupon 4.83%, maturing 2026 to 2055.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

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