Marsh McLennan has reported a strong start to 2026, with first-quarter revenue rising 8% year-on-year to $7.6bn, supported by steady growth across both its brokerage and consulting businesses.
Underlying revenue increased 4%, while adjusted operating income rose 8% to $2.4bn. Adjusted earnings per share also increased 8% to $3.29, reflecting consistent operational performance across the group.
The Risk & Insurance Services division generated $5.1bn in revenue, up 6% (3% underlying), driven by growth across both Marsh Risk and reinsurance broker Guy Carpenter.
Marsh Risk delivered $3.7bn in revenue, up 8% on an underlying basis, with international markets outperforming North America. Guy Carpenter posted $1.2bn in revenue, up 3% (2% underlying), supported by continued demand for reinsurance solutions.
Regional performance was led by EMEA, which grew 6% on an underlying basis, followed by Asia Pacific at 5% and Latin America at 2%, while the US and Canada recorded 3% growth.
The Consulting segment also delivered strong momentum, with revenue increasing 11% to $2.6bn and operating income rising 15% to $525m. Within the segment, Mercer reported $1.7bn in revenue, up 11%, driven by growth in wealth and health businesses.
John Doyle said: “We had a solid start to the year. Our results reflect Marsh’s market leadership, our clients’ trust in our team’s expertise, and the strength of our data and insights.”
During the quarter, the company repurchased 4.2 million shares for $750m and issued $600m in senior notes, while also repaying an equivalent amount of maturing debt.
The results highlight continued momentum across global insurance brokerage and consulting markets, with strong client demand supporting balanced growth across regions and business lines.
