Strong Revenue Growth: Marsh & McLennan reported a solid 12% increase in consolidated revenue for Q2 2025, reaching $7 billion, while underlying revenue grew 4%. Adjusted EPS for the quarter was $2.72, a year-over-year increase of 11%. This growth reflects strong execution amid a challenging macroeconomic environment and contributions from acquisitions made in 2024.

Declining Insurance Pricing: The overall pricing environment in commercial insurance continues to soften, with the Marsh Global Insurance Market Index showing a 4% decrease in rates for Q2, following a 3% decline in Q1. Property insurance rates in particular have been under pressure, although global casualty rates increased by 4%. The U.S. liability market remains significantly impacted by excessive litigation, driving up costs and affecting overall growth.

Mixed Performance in Segments: While Risk and Insurance Services (RIS) experienced solid underlying growth of 4%, Marsh grew by 5% and Guy Carpenter by 5%, Mercer saw weaker performance with a 3% growth, particularly impacted by a decline in project demand in its Career segment. Challenges remain in the Consulting business, particularly in project-related work due to economic uncertainties.