The company’s Risk & Insurance Services segment contributed $3.6bn to Q4 revenue, marking an overall increase of 11%. Credit: JHVEPhoto/Shutterstock.

US-based Marsh McLennan posted attributable net income of $788m for the fourth quarter (Q4) of 2024, reflecting a 4.23% increase from $756m in the same quarter of 2023.  

For the quarter that ended on 31 December, the company’s consolidated revenue rose by 9% to $6.1bn, up from $5.5bn in Q4 2023.  

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Diluted earnings per share (EPS) increased by 5% to $1.59, compared with $1.52 in the prior-year quarter. 

The Risk & Insurance Services segment contributed $3.6bn to Q4 revenue, an 11% increase overall and 8% on an underlying basis.  

Furthermore, operating income for the segment stood at $770m.  

Revenue growth was strong across various regions, with US/Canada operations increasing by 8% and international operations by 9%. 

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The Consulting segment recorded a 6% increase in Q4 revenue to $2.4bn, consistent on both GAAP and underlying bases, the company said. 

In Q4, the company acquired insurance broking and risk management services provider McGriff Insurance Services through its Marsh McLennan Agency business for $7.75bn in cash.  

For the full year 2024, Marsh McLennan reported net income of $4.06bn, an 8.27% increase from $3.75bn in 2023.  

Annual revenue reached $24.5bn, reflecting an 8% rise overall and 7% on an underlying basis.  

Diluted EPS for full year 2024 was $8.18, up from $7.53 in 2023. 

Marsh McLennan president and CEO John Doyle said: “Our fourth quarter results capped a terrific year for Marsh McLennan. We delivered on our strategic objectives, generated excellent financial performance, and had the largest year of acquisitions in our history.  

“For the full year, we generated 7% underlying revenue growth, 10% adjusted EPS growth and 80 basis points of adjusted margin expansion, marking our 17th consecutive year of reported margin expansion. We are well positioned for another strong year in 2025, reflecting our unique capabilities and the enduring value we bring to clients.”