1-Star Price
PREMIUM
5-Star Price
PREMIUM
Economic Moat
PREMIUM
Capital Allocation
PREMIUM
Marsh & McLennan reported unusually strong growth in the second quarter, benefiting from both strong insurance market pricing and the bounceback in the economy. We think near-term tailwinds and easy comparisons will drive outsize growth for the company this year. But we’d caution that modest and stable organic growth has been the norm historically and is our expectation over the long term. We will maintain our $112 fair value estimate and narrow moat rating.
Marsh & McLennan is a professional-services firm that provides advice and solutions in the areas of risk, strategy, and human capital. The company operates through two main segments: risk and insurance services and consulting. In risk and insurance services, the firm offers services via Marsh (an insurance broker) and Guy Carpenter (a risk and reinsurance specialist). The consulting division comprises Mercer (a provider of human resource services) and Oliver Wyman (a management and economic consultancy).
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