Marsh McLennan’s 2023 revenue climbs 10%

Risk, insurance and consulting services contributed to the YoY performance.

Marsh McLennan saw its fourth-quarter (Q4) 2023 revenue at $5.6b, an 11% year-on-year increase, with operating income at $1.1b. Full-year revenue was $22.7b, up 10% YoY.

CEO John Doyle highlighted 9% underlying revenue growth, 17% adjusted EPS growth, and 130 basis points of margin expansion for the year.

Noteworthy, the company made substantial investments, both organic and inorganic, positioning well for 2024.

ALSO READ: Marsh completes acquisition of Honan Insurance

Key divisions, risk & insurance services and consulting, contributed to the robust performance.

Marsh's Q4 revenue was $2.9b (7% increase), and Guy Carpenter saw a 48% Q4 revenue increase.

Consulting revenue in Q4 was $2.3b (10% increase). Mercer's Q4 revenue was $1.4b (9% increase), and Oliver Wyman's Q4 revenue was $856m (9% increase).

The company repurchased 1.3 million shares for $250m in Q4 and completed the acquisition of Honan Insurance Group in November.

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