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Marsh & McLennan Cos. Inc. recently announced the fourth quarter's combined revenue came to $5 billion, down 2% from the same time in 2021 but up 7% on an underlying basis.
Although the economy is facing the possibility of a recession, many elements continue to be favorable for the company's growth, according to Marsh McLennan President and CEO John Doyle.
Despite a slowdown in growth rates, Doyle said that commercial property/casualty insurance pricing will continue to rise on average “across many lines and geographies." Doyle also noted that the challenging reinsurance market may have an impact on other insurance rates, especially property insurance.
The brokerage is currently anticipating underlying growth for the year to be to be in the mid-single digits or higher.
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