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Marsh & McLennan Companies Inc MMC

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Morningstar’s Analysis

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Marsh & McLennan Bounces Back in Q1

Brett Horn, CFA Senior Equity Analyst

Analyst Note

| Brett Horn, CFA |

Marsh & McLennan posted a strong first quarter, and we think the company will have some tailwinds at its back this year, as the impact of the pandemic recedes and the company benefits from a harder insurance market. That said, we continue to expect only modest growth longer-term for the narrow-moat company, and we will maintain our $108 fair value estimate.

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Company Profile

Business Description

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).

1166 Avenue of the Americas
New York, NY, 10036-2774
T +1 212 345-5000
Sector Financial Services
Industry Insurance Brokers
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2020
Stock Type Cyclical
Employees 44,100