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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“were an important factor when Aon and Marsh and other major brokers are engaged in the creation and putting together in placement of data centers.”
Chubb positions itself as a key insurer when brokers like Marsh (Marsh & McLennan) place data-center construction and operations risk.
“we announced an exciting partnership with both Cambridge Associates and Mercer”
S&P Global partnered with Mercer (a Marsh & McLennan business) and Cambridge Associates to build private-markets performance analytics and a common benchmarking classification system.
“The 16% growth at Marsh is impressive and reflects the contribution from McGriff where integration continues to go well.”
Marsh McLennan credits its 2024 McGriff acquisition for boosting Marsh segment growth, with integration progressing well and revenue synergies via a new London wholesale desk.
“I would also note we acquired two other top 100 agencies at MMA last year, Fisher Brown Bottrell and Horton.”
Marsh McLennan Agency acquired top-100 insurance agency Horton in 2024, part of an active year of middle-market M&A alongside McGriff.
“I would also note we acquired two other top 100 agencies at MMA last year, Fisher Brown Bottrell and Horton.”
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Mike Zaremski | BMO Capital Markets | 12 (8%) |
| Dave Motemaden | Evercore ISI | 12 (25%) |
| Greg Peters | Raymond James | 12 (25%) |
| Jim Bhullar | JPMorgan | 10 (20%) |
| Meyer Shields | KBW | 10 (0%) |
| Elyse Greenspan | Wells Fargo | 8 (38%) |
| Alex Scott | Barclays | 6 (0%) |
| Rob Cox | Goldman Sachs | 6 (0%) |
| Brian Meredith | UBS | 6 (33%) |
| Paul Newsome | Piper Sandler | 2 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| BMO Capital Markets | 1 | 12 (8%) |
| Evercore ISI | 1 | 12 (25%) |
| Raymond James | 1 | 12 (25%) |
| KBW | 1 |
Marsh McLennan Agency acquired top-100 insurance agency Fisher Brown Bottrell in 2024, part of an active year of middle-market M&A alongside McGriff.
“In addition to that, we acquired Cardano and Vanguard US OCIO business in our investment business.”
Marsh McLennan acquired Vanguard's U.S. outsourced-CIO (OCIO) business in 2024, adding to its investment management scale within Mercer.
“Year-over-year growth was driven by our acquisition of Cardano, positive net flows, and the impact of capital markets.”
Marsh McLennan's acquisition of investment consultant Cardano was a key driver of the 25% year-over-year increase in Mercer's assets under management to $613 billion.
“Our colleagues at McGriff performed well in the quarter, and the integration remains on track.”
Marsh McLennan's November 2024 acquisition of insurance brokerage McGriff is integrating on track, with management reiterating it will be modestly accretive to adjusted EPS for full-year 2025 and more meaningfully accretive from 2026.
“Let me touch briefly on our acquisition of McGriff, which closed on November 15th. McGriff has great momentum and I couldn't be more excited to have them join Marsh McLennan Agency.”
Marsh McLennan closed its $7.75 billion acquisition of insurance brokerage McGriff in November 2024, its largest deal ever, extending its middle-market reach through Marsh McLennan Agency and expected to be modestly accretive to adjusted EPS in 2025.
| 10 (0%) |
| JPMorgan | 1 | 10 (20%) |
| Wells Fargo | 1 | 8 (38%) |
| Barclays | 2 | 8 (0%) |
| Goldman Sachs | 1 | 6 (0%) |
Marsh McLennan closed FY2025 with consolidated revenue of $24.5 billion and adjusted EPS growth of 10%, achieving an 18th consecutive year of reported margin expansion as the company delivered 4% full-year underlying revenue growth. Management introduced FY2026 guidance targeting underlying revenue growth similar to 2025, continued margin expansion, and solid adjusted EPS growth, while launching the unified Marsh brand and ticker change to MRSH alongside record free cash flow of $5 billion and $3.5 billion in share repurchases.
Revenue Growth | Pricing | Demand | Competitive Dynamics | M&A | Macroeconomic | Capital Allocation | Margin | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 7 | 3 | 4 | 2 | 5 | 1 | 2 | 4 |
| 2025Q1 | 5 | 7 | 3 | 2 | 3 | 4 | 1 | |
| 2025Q2 | 5 | 2 | 5 | 1 | 3 | 1 | 1 | |
| 2025Q3 | 9 | 2 | 2 | 5 | 3 | 3 | 3 | 2 |
| 2025Q4 | 5 | 3 | 3 | 3 | 2 | 1 | 2 | 1 |
| 2026Q1 | 4 | 3 | 2 | 4 | 3 | 3 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 7 | 5 | 5 | 9 | 5 | 4 |
| Pricing | 3 | 7 | 2 | 2 | 3 | 3 |
| Demand | 4 | 3 | 5 | 2 | 3 | 2 |
| Competitive Dynamics | 2 | 2 | 1 | 5 | 3 | 4 |
| M&A | 5 | 3 | 3 | 2 | 3 | |
| Macroeconomic | 1 | 4 | 3 | 3 | 1 | |
| Capital Allocation | 2 | 1 | 3 | 2 | 3 | |
| Margin | 4 | 1 | 1 | 2 | 1 | 2 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
MRSH Marsh & McLennan Companies, Inc. | 6 | +7.6% | |
| AJG Arthur J. Gallagher & Co. | 6 | +27.6% | |
| AON Aon | 7 | +6.5% | |
| BRO Brown & Brown | 6 | +37.3% | |
| WTW Willis Towers Watson | 5 | +8.5% |