Marsh publishes first FY results since rebrand
Marsh has today reported that its Risk & Insurance Services revenue was $17.3bn for the full year ended 31 December 2025, an increase of 12% (2024: $15.4bn), or 4% on an underlying basis.
The results are the first full year figures since Marsh McLennan announced it would change its brand to Marsh – the name already used by its insurance broking arm – effective as of January 2026.
Operating income rose 6% to $4.6bn (2024: $4.37bn), and adjusted operating income increased 12% to $5.5bn (2024: $4.9bn).
Broking arm revenueBroken down, broking arm Marsh Risk’s revenue was $14.4bn, an increase of 15% compared with a year ago (2024: $12.5bn), or 4% on an underlying basis. Reinsurance arm
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