Marsh & McLennan Companies, Inc.

Description

Marsh & McLennan Companies Inc, founded in 1905, provides various solutions and services related to human capital, risk, insurance, climate resilience, etc.

The firm operates through various companies, namely Mercer, Oliver Wyman, Marsh Inc, NERA Economic Consulting, Jardine Lloyd Thompson, Victor Insurance Holdings, Guy Carpenter, etc.

The company claims to offer risk management solutions and insurance broking services to commercial and individual clients of all sizes.

The professional services firm operates under two core segments: Consulting and risk and insurance services.

Risk and Insurance Services

The global firm caters to management of risk, including risk control, advice, transfer, and mitigation solutions. In addition, the segment deals with reinsurance and insurance services, including brokerage. The company operates through Guy Carpenter and Marsh under this segment.

Consulting

The solution portfolio consists of career services, health, wealth, and related products. In addition, the segment specializes in economics, management, and brand consulting services. The business is conducted through Oliver Wyman Group and Mercer.

As part of its sustainability approach, the company focuses on reducing carbon emission by 15 per cent pre 2019 level by 2025.

The company operates through various subsidiaries, including:
• Jardine Lloyd Thompson
• Lippincott
• CRG
• Mercer Ltd
• CS Stars LLC
• Perils AG
• Marsh India Private Ltd
• Marsh S.p.A
• Johnson & Higgins
The global professional services firm claims to have generated 40 per cent of the total revenue from the consulting segment in 2020.

Through Mercer, the company aids private and public sector employers in managing and designing health care programs for employees. In addition, Mercer also provides administrative services for flexible benefits and health benefits programs. Other service offerings include:
• compliance with benefits-related rules
• Outsourcing of benefits
• Establishing welfare and health benefits plans for employees
• digital employee engagement

Amid the COVID-19 pandemic, the professional services firm claims to focus on the safety and well-being of the staff and other stakeholders.