Marsh McLennan reported a solid third quarter with revenues reaching $6.4 billion, up 11% from the same period last year. On an organic basis, which excludes effects from acquisitions and currency changes, revenue grew 4%, a slight slowdown from the 5% organic growth seen in the third quarter of 2024. John Doyle, the company’s president and CEO, noted that these results met expectations.
The company’s operating income rose 6% to $1.2 billion compared to $1.1 billion in the third quarter of 2024. Net income held steady at $747 million, matching last year’s figures. Earnings per share (EPS) were $1.51, while adjusted EPS climbed 11% to $1.85 from $1.66 a year earlier.
Looking at the first nine months of 2025, Marsh McLennan’s revenue totaled $20.4 billion, reflecting an 11% increase by GAAP standards and 4% growth on an organic basis. Operating income for this period climbed 7% to $5.0 billion, with adjusted operating income rising 11% to $5.7 billion. Net income for the nine months was $3.3 billion, or $6.75 per diluted share, compared to $6.59 in 2024. Adjusted earnings per share increased 9%, reaching $7.63.
The company’s Risk and Insurance Services (RIS) segment, which includes Marsh and Guy Carpenter, brought in $3.9 billion in revenue during the quarter. This is a 13% increase overall, with 3% growth on an organic basis. Operating income in RIS rose 3% to $750 million, while adjusted operating income jumped 13% to $965 million.
Breaking down RIS further, Marsh itself posted $3.4 billion in revenue for the quarter. That’s a 16% increase in total revenue and 4% on an organic basis. Organic revenue growth in the U.S. and Canada was 3%, while international markets saw 5% growth, including 5% in Europe, the Middle East, and Africa; 6% in Asia Pacific; and 3% in Latin America. Over the first nine months, Marsh’s organic revenue grew by 5%.
Meanwhile, Guy Carpenter’s revenue for the quarter was $398 million, with a 5% increase both on a GAAP and organic basis. For the nine months, its organic revenue also rose by 5%.
In a notable move, Marsh McLennan announced on October 14 that it will be rebranding as “Marsh” starting January 2026. This change will be accompanied by the launch of a new business unit, Business and Client Services (BCS), aimed at speeding up innovation, boosting efficiency, and centralizing investments in data, AI, and analytics. The four main company businesses will adopt the Marsh brand by 2027 after a transition period. Additionally, the company’s stock ticker on the New York Stock Exchange will change from MMC to MRSH in January 2026.
Overall, Marsh McLennan’s results signal consistent growth, even with some slowdown in organic revenue expansion. The rebranding and new focus on innovation hint at a push to strengthen its market position as it moves forward.