Marsh & McLennan Companies Investor Relations Material

Marsh McLennan Companies is an American professional services firm with multinational operations. The company operates through four main subsidiaries: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. Through these subsidiaries, it offers a variety of services in consulting, risk management, investments, insurance, and more. The company is headquartered in NYC, and its shares are listed on the NYSE.

Founded in 1905 in Chicago by Henry W. Marsh and Donald R. McLennan, the firm initially focused on insurance broking. The early decades saw steady growth and expansion in the insurance sector, something which continued into the latter half of the century. Some notable milestones for the company include the acquisition of Guy Carpenter, a reinsurance specialist, and the formation of Mercer, focusing on human resource consulting. The early 2000s were marked by strategic acquisitions to broaden its service portfolio, most notably acquiring Oliver Wyman. Professional services is a competitive field, and some of the company’s peers are Aon, Willis Towers Watsons, and Brown & Brown.

The company operates through four main subsidiaries, each specializing in different aspects of professional services.

• Marsh: Specializing in insurance broking and risk management, Marsh provides clients with strategic advice and solutions for managing risk. The subsidiary works across various industries, offering tailored risk management solutions to meet the specific needs of their clients.

• Guy Carpenter: This subsidiary focuses on providing risk and reinsurance intermediary services. It helps its clients manage and mitigate risks, particularly in the reinsurance sector.

• Mercer: Mercer's expertise lies in health, wealth, and career consulting. This subsidiary provides guidance on health benefits, retirement planning, and talent management, among other areas.

• Oliver Wyman: Delivers services in strategy, operations, risk management, and organization transformation. They work with clients across various sectors to develop and implement customized solutions to complex business challenges.

Marsh & McLennan's operating model emphasizes a client-centric approach, using the specialized expertise of its subsidiaries to provide comprehensive, integrated solutions to its clients. Each of these subsidiaries operates semi-autonomously under the broader Marsh & McLennan umbrella, allowing them to specialize deeply in their respective fields while benefiting from the resources and global reach of the parent company.