Marsh & McLennan Files 2024 10-K

Ticker: MRSH · Form: 10-K · Filed: Feb 10, 2025

Sentiment: neutral

Topics: 10-K, annual-report, financials

TL;DR

MMC filed its 2024 10-K. Full financials and biz details out now.

AI Summary

Marsh & McLennan Companies, Inc. filed its 2024 10-K on February 10, 2025, reporting on its fiscal year ending December 31, 2024. The company, a leader in insurance, risk management, and consulting, operates globally and is incorporated in Delaware. Key financial data and operational details for the fiscal year 2024 are presented in this comprehensive filing.

Why It Matters

This filing provides investors and stakeholders with a detailed overview of Marsh & McLennan's financial performance, strategic initiatives, and risk factors for the 2024 fiscal year, crucial for understanding the company's current standing and future outlook.

Risk Assessment

Risk Level: low — The filing is a standard annual report (10-K) for a large, established public company, indicating routine disclosure rather than immediate, high-impact events.

Key Numbers

Key Players & Entities

FAQ

What is the primary business of Marsh & McLennan Companies, Inc. as indicated by its SIC code?

The Standard Industrial Classification (SIC) code 6411 indicates the company's primary business is Insurance Agents Brokers & Services.

When did Marsh & McLennan Companies, Inc. last change its name prior to its current name?

The company was formerly known as MARLENNAN CORP and changed its name on 19760505.

What is the filing date of this 10-K report?

This 10-K report was filed on 20250210.

What is the fiscal year end date for Marsh & McLennan Companies, Inc.?

The fiscal year end for Marsh & McLennan Companies, Inc. is December 31 (1231).

In which state was Marsh & McLennan Companies, Inc. incorporated?

Marsh & McLennan Companies, Inc. was incorporated in Delaware (DE).

Filing Stats: 4,215 words · 17 min read · ~14 pages · Grade level 16.5 · Accepted 2025-02-10 16:05:24

Key Financial Figures

Filing Documents

— Business

Item 1 — Business 1

— Risk Factors

Item 1A — Risk Factors 13

— Unresolved Staff Comments

Item 1B — Unresolved Staff Comments 33

— Cybersecurity

Item 1C — Cybersecurity 33

— Properties

Item 2 — Properties 35

— Legal Proceedings

Item 3 — Legal Proceedings 35

— Mine Safety Disclosures

Item 4 — Mine Safety Disclosures 35 PART II

— Market for the Company's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5 — Market for the Company's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 36

— [Reserved]

Item 6 — [Reserved] 36

— Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7 — Management's Discussion and Analysis of Financial Condition and Results of Operations 37

— Quantitative and Qualitative Disclosures About Market Risk

Item 7A — Quantitative and Qualitative Disclosures About Market Risk 57

— Financial Statements and Supplementary Data

Item 8 — Financial Statements and Supplementary Data 59

— Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9 — Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 116

— Controls and Procedures

Item 9A — Controls and Procedures 116

— Other Information

Item 9B — Other Information 118 PART III

— Directors, Executive Officers and Corporate Governance

Item 10 — Directors, Executive Officers and Corporate Governance 119

— Executive Compensation

Item 11 — Executive Compensation 119

— Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12 — Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 119

— Certain Relationships and Related Transactions, and Director Independence

Item 13 — Certain Relationships and Related Transactions, and Director Independence 119

— Principal Accountant Fees and Services

Item 14 — Principal Accountant Fees and Services 119 PART IV

— Exhibits and Financial Statement Schedules

Item 15 — Exhibits and Financial Statement Schedules 120

— Form 10-K Summary

Item 16 — Form 10-K Summary 132 Signatures 133 ii PART I

Business

Item 1. Business. References in this report to "we", "us" and "our" are to Marsh & McLennan Companies, Inc. and its consolidated subsidiaries (the "Company" or "Marsh McLennan"), unless the context otherwise requires. GENERAL Marsh McLennan is the world's leading professional services firm in the areas of risk, strategy and people. We help clients build the confidence to thrive through the power of perspective of our four market-leading businesses. With annual revenue of over $24 billion, we have more than 90,000 colleagues advising clients in over 130 countries. Marsh provides data-driven risk advisory services and insurance solutions to commercial and consumer clients. Guy Carpenter develops advanced risk, reinsurance and capital strategies that help clients grow profitably and pursue emerging opportunities. Mercer delivers advice and technology-driven solutions that help organizations redefine the world of work, reshape retirement and investment outcomes, and unlock health and well-being for a changing workforce. Oliver Wyman Group serves as a critical strategic, economic and brand advisor to private sector and governmental clients. Our four businesses also collaborate together to deliver new solutions to help clients manage complex and interconnected risks. The Company conducts business through two segments: Risk and Insurance Services includes risk management activities (risk advice, risk transfer and risk control and mitigation solutions) as well as insurance and reinsurance broking and services. The Company conducts business in this segment through Marsh and Guy Carpenter. Consulting includes health, wealth and career advice, solutions and products, and specialized management, strategic, economic and brand consulting services. The Company conducts business in this segment through Mercer and Oliver Wyman Group. We describe our current segments in further detail below. We provide financial information about our segments in our consolidated financial sta

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