Q2 2026 Marsh & McLennan Companies Inc Earnings Call Transcript
Key Points
- Marsh (MRSH) reported a solid second quarter with a 6% increase in overall revenue and a 5% growth in underlying revenue.
- The company's adjusted EPS grew by 9% year-over-year, indicating strong financial performance.
- Marsh's Thrive program is designed to accelerate growth by investing in brand expansion, sales capacity, and leveraging technology, which has received a positive market response.
- The company is actively investing in AI tools to enhance productivity and efficiency, positioning itself as a leader in AI-driven solutions.
- Marsh Management Consulting experienced a 13% growth in revenue, reflecting strong demand and delivery across the business.
- Guy Carpenter's revenue declined by 2% due to challenging market conditions and declining reinsurance rates, particularly in property lines.
- The global insurance market index showed a decrease in primary commercial insurance rates, with significant declines in regions like the Pacific and Europe.
- Persistent soft market conditions in reinsurance have led to a challenging environment for growth in this segment.
- The company faced $52 million in costs associated with fraud, impacting its financials.
- Marsh's health business within Mercer reported a 3% growth, which is below its historical growth rate, indicating potential challenges in this segment.
Welcome to Marsh's earnings conference call. Today's call is being recorded. Second quarter 2026 financial results and supplemental information were issued earlier this morning. They are available on the company's website at corporate.marsh.com. Please note that remarks made today may include forward-looking statements.
Forward-looking statements are subject to risks and uncertainties, and a variety of factors may cause actual results to differ materially from those contemplated by such statements. For a more detailed discussion of those factors, please refer to our earnings release for this quarter and to our most recent SEC filings, including our most recent Form 10-K, all of which are available on the Marsh website.
During the call today, we may also discuss certain non-GAAP financial measures. For a reconciliation of these measures to the most closely comparable GAAP measures, please refer to the schedule in today's earnings release. (Operator Instructions)
I'll now turn this over to John Doyle, President and CEO of Marsh.
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