AI-extracted from the 10-Q filed 2026-10-15 — Q3 2026 (quarter ended September 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Marsh reported Q3 revenue of $6.9B (+8% YoY) driven by Risk and Insurance Services (+7%) and Consulting (+9%), though nine-month operating income fell 3% to $4.9B due to $569M Greensill litigation charge.
Biggest Revenue Drivers
Risk and Insurance Services$4.2B+7% YoY
Growth driven by Risk underlying revenue increase of 5%, partially offset by declining reinsurance premium rates; includes $126M remeasurement gain on Deasterra consolidation.
Consulting$2.7B+9% YoY
Growth across People and Investments (+6% underlying) and Management Consulting (+14% underlying); Management Consulting driven by growth in most regions.
Biggest Revenue Drivers
Total revenue: $6.9B+8% YoY
Risk and Insurance Services$4.2B+7% YoY
Growth driven by Risk underlying revenue increase of 5%, partially offset by declining reinsurance premium rates; includes $126M remeasurement gain on Deasterra consolidation.
Within Risk and Insurance Services
Risk (within Risk and Insurance Services)$3.7B+10% YoY
Underlying growth of 5% from higher new business and renewal revenue, partially offset by declining insurance premium rates.
Reinsurance (within Risk and Insurance Services)$374M-6% YoY
Decline driven by declining reinsurance premium rates.
Consulting$2.7B+9% YoY
Growth across People and Investments (+6% underlying) and Management Consulting (+14% underlying); Management Consulting driven by growth in most regions.
Largest Expense Items
Compensation and benefits$4.1B+5% YoY
Higher base salaries and incentive compensation.
Other operating expenses$1.6B+22% YoY
Includes $144M charge net of insurance proceeds related to Greensill settlement; increased travel, outside services, and information technology costs.
Watch Items from the Filing
Greensill litigation: Company recorded $569M charge YTD (net of insurance proceeds) for settlements with Greensill Bank, Credit Suisse, and related costs through September 2026, now concluding Marsh's involvement.
Thrive restructuring program cost increased to ~$750M from $500M with expected annualized savings of ~$600M (up from $400M), with $310M incurred YTD through September 30, 2026.
Fiduciary interest income declined $9M to $100M in Q3 (down from $109M prior year) and $38M YTD (down from $311M) due to lower average interest rates, creating revenue headwind.
Nine-month operating income declined 3% to $4.9B despite 7% revenue growth, reflecting 10% expense growth including restructuring and Greensill charges impacting profitability expansion.
Reinsurance revenue declined 6% in Q3 and 1% YTD on underlying basis due to declining reinsurance premium rates, indicating margin pressure in this segment.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Schapiro Morton ODirectorGrant or award · Aug 15, 2026
Broussard Bruce DDirectorGrant or award · Aug 15, 2026
Mills Steven ADirectorGrant or award · Aug 15, 2026
Ingram TamaraDirectorOther acquisition or disposition · Aug 14, 2026
Congress trading in MRSH
7 transactions in MRSH reported by 2 members of Congress under the STOCK Act, most recent trade Sep 23, 2026. Reported transactions, not recommendations.
About MARSH & MCLENNAN COMPANIES, INC. (MRSH): stock profile, AI score and financials
MARSH & MCLENNAN COMPANIES, INC. (MRSH) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores MRSH at 67.6/100 on a composite quality score built from its SEC filings, placing it at rank #354 of 2,925 stocks — the top 25% of the AI-ranked universe. MRSH scores in the top quartile across revenue scale (94.7), balance sheet strength (76.4). Shareholder dilution risk is elevated at 45.8/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q3 2026), MARSH & MCLENNAN COMPANIES, INC. reports quarterly revenue of $6.9B, net income of $808.0M, an operating margin of 17.7%. MRSH trades on the NYSE exchange and files with the SEC under CIK 62709. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate MRSH daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for MARSH & MCLENNAN COMPANIES, INC. directly from SEC EDGAR.